Oil prices jumped more than 6% on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained. Brent crude futures rose $2.31, or 6.7%, to $36.67 a barrel by 0115 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.79, or 5.8%, to $32.92 a barrel following declines of nearly 25 percent on Monday. Both benchmarks dropped to their lowest since February 2016 in the previous session and recorded their biggest one-day percentage declines since …read more
Source:: Yahoo Finance
