Brent rises above $ 110 as FED sees low interest rates
1/26/2012 11:21:13 AM
SINGAPORE : Brent crude rose above $110 on Thursday, extending gains on hopes of demand growth revival after the U.S. Federal Reserve said it aimed to keep interest rates low for much longer than previously planned to help speed economic recovery.
Markets cheered the Fed's rate outlook and Asian shares, base metals, gold and the euro all rose as the comments helped counter concerns among investors about Greece's debt crisis worsening and hurting the global economy. For oil, added support came from worries about supply because of tensions with Iran.
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