Benchmark U.S. crude rose more than 3per cent in early trade on Wednesday, recovering from a 10per cent slump the previous session on hopes for ...
Benchmark U.S. crude rose more than 3per cent in early trade on Wednesday, recovering from a 10per cent slump the previous session on hopes for purchases by consumer countries for their strategic stockpiles on a scale not before seen.
U.S. West Texas Intermediate crude futures were up 3.43per cent, or 69 cents, at US$20.80 at 2225 GMT, after having crashed 10.3per cent on Tuesday on fears that a record global output cut by producers would not offset plunging fuel demand hit by the coronavirus pandemic.
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