Tuesday, January 8, 2019

Oil prices bounce back

Oil prices climbed more than 2 percent, rebounding further from 1 year lows reached in December, on support from OPEC production cuts and steadying equities markets.

Brent crude futures rose $1.13 to $58.19 a barrel, a 2 percent gain, as of 12:57 p.m. EST (1757 GMT). U.S. West Texas Intermediate crude futures rose $1.27 to $49.23 a barrel, a 2.7 percent gain.

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