China
Oil prices climbed on Wednesday.
The West Texas Intermediate for August delivery gained 3.08 U.S. dollars, or 4.37 percent, to settle at 73.52 dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery increased 3.86 dollars, or 5.2 percent, to settle at 78.02 dollars a barrel on the London ICE Futures Exchange.
Crude futures settle higher
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 41 pips to 6.8036 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Chinese yuan strengthens to 6.8036 against USD Thursday
