Brent prices surge on back of Bank of Japan easing
Reuters in Tokyo
Brent crude rose above US$112 a barrel on Wednesday after Japan’s central bank announced it would boost asset purchases to stimulate the economy of the world’s third biggest oil consumer. Brent November crude rose 55 US cents to US$112.58 a barrel by 0627 GMT, snapping two straight days of losses. US October crude was up 62 US cents at US$95.91 a barrel. The contract expires on Thursday. US November crude rose 58 US cents to US$96.20 a barrel.