oil prices

Oil ekes out gains as U.S. stimulus hopes lift global markets

Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic, Trend reports citing Reuters. U.S. crude CLc1 touched a high of $25.10 a barrel early in the session and was at $24.61 a barrel, up 60 cents, or 2.5%, by 1243 GMT. Brent crude LCOc1 was trading up 49 cents, or 1.8%, at $27.64 a barrel.
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Oil extends gains as U.S. output cut hopes grow

Oil prices climbed for a second day on Wednesday as hopes U.S. producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally, Trend reports with reference to Reuters.
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