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Markets latch on to 10% bounce in oil prices

Talk of more monetary easing from Europe and Japan triggers rebound

The upward trend in crude palm oil prices is expected to continue this year on lower production forecasts, with an average price of RM2,590 a tonne, the Malaysian state news agency Bernama reported, citing the Malaysian Palm Oil Council (MPOC).


OIL prices rebounded with such a vengeance on Friday that analysts suggest the panic engulfing global financial markets might be at a temporary end.

The trigger was apparently European Central Bank (ECB) president Mario Draghi saying after a scheduled ECB meeting that he