Oil Rises After Biggest Surge Since May on Stimulus Optimism
(Bloomberg) — Oil rose further after the biggest gain since May on growing optimism for more U.S. fiscal stimulus and as Hurricane Delta heads for the Gulf of Mexico.Futures added 3% in New York, following Monday’s surge above $39 a barrel. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will resume talks on Tuesday on another round of pandemic relief funding, but there’s no sign yet they are close to a deal despite Trump’s urging to get it done.At the same time Hurricane Delta is hurtling toward the Gulf of Mexico, where it will likely force oil production to …read more […]
