China's economic worries ease, crude oil prices fall first, then rise

U.Scrude futures continued to rebound in New York on Tuesday (July 23), showing a general trend of weakness and then gains as markets continued to forecast that the Federal Reserve would cut back on debt purchases in September, while China's prime minister said the country's GDP growth would remain at least 7 percentU.Scrude futures extended their premium to Brent crude futures4ev
More than half of analysts predict edgdown the Fed's $85 billion-a-month debt purchases to $65 billion in September, while others believe the Fed could scale back in the second quarter of 2014, according to a Bloomberg survey4ev
Chinese Premier Li Keqiang said on Tuesday that 7% of GDP growth was guaranteed, despite a slight slowdown in the country's growth rate4ev
Goldman Sachs on Monday raised its premium for brent crude oil for future U.Scrude oil futures due to an oversupply of U.Scrude off the coast of Mexico4ev
　　Phil Flynn, senior market analyst at Price Futures Group, said: "It may not be far from the time frame for the Fed to start scaling back its debt purchases, and markets are now watching closely for the Fed's next move." In addition, China's economy can basically maintain a growth rate of 7%, which provides some support for crude oil prices Gene McGillian, an analyst at , said, "As investor speculation grows about the Fed's early reduction in debt purchases, the market is bound to be somewhat affected." But the recent price of crude oil is a bit overdone, the short-term correction is reasonable U.S crude inventories fell 2.7 million barrels last week to 364.3 million barrels, the lowest level since January, according to the 4ev survey The U.S Energy Information Administration (EIA) is due to release official crude oil inventory data on Wednesday (July 24) 4ev
　　NYMEX crude futures were trading at $107.11 a barrel at 04:26 BST 4ev U.S crude futures continued to rebound in New York on Tuesday (July 23), showing a general trend of first-down gains today as markets continued to forecast that the Federal Reserve would cut back on debt purchases in September, while China's prime minister said the country's GDP growth remained at least 7 percent U.S crude futures extended their premium to Brent crude futures 4ev
　　More than half of analysts predict edgdown the Fed's $85 billion-a-month debt purchases to $65 billion in September, while others believe the Fed could scale back in the second quarter of 2014, according to a Bloomberg survey 4ev
　　Chinese Premier Li Keqiang said on Tuesday that 7% of GDP growth was guaranteed, despite a slight slowdown in the country's growth rate 4ev
　　Goldman Sachs on Monday raised its premium for brent crude oil for future U.S crude oil futures due to an oversupply of U.S crude off the coast of Mexico 4ev
　　Phil Flynn, senior market analyst at Price Futures Group, said: "It may not be far from the time frame for the Fed to start scaling back its debt purchases, and markets are now watching closely for the Fed's next move." In addition, China's economy can basically maintain a growth rate of 7%, which provides some support for crude oil prices Gene McGillian, an analyst at , said, "As investor speculation grows about the Fed's early reduction in debt purchases, the market is bound to be somewhat affected." But the recent price of crude oil is a bit overdone, the short-term correction is reasonable U.S crude inventories fell 2.7 million barrels last week to 364.3 million barrels, the lowest level since January, according to the 4ev survey The U.S Energy Information Administration (EIA) is due to release official crude oil inventory data on Wednesday (July 24) 4ev
　　NYMEX crude futures were trading at $107.11 a barrel at 04:26 BST 4ev