OIL PRICE: NEAR $51 ANEW
REUTERS - MARCH 2, 2020 - Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Brent crude LCOc1 was at $51.91 a barrel, up $2.24 or 4.5%, by 0812 GMT, off $48.40, the lowest since July 2017.
Across the Atlantic, U.S. West Texas Intermediate crude CLc1 hit a 14-month low of $43.32, before recovering to $46.65, up $1.89, or 4.2%.
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.