Oil Prices Rebound After Taking Brunt of Coronavirus Hit - News Summed Up

Oil Prices Rebound After Taking Brunt of Coronavirus Hit


Oil and copper prices rose Wednesday, reversing course from their steady drop to start the year in a move that some traders attributed to unconfirmed media reports that a Chinese university found a treatment for the fast-spreading coronavirus. Brent-crude futures, the global oil benchmark, gained 2.4% to close at $55.28 a barrel. West Texas Intermediate, the main U.S. price, climbed 2.3% to $50.75. Both benchmarks had risen more than 4% during the session and were poised for their best day of 2020 until retreating somewhat....


Source: Wall Street Journal February 05, 2020 12:14 UTC



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