After sharp losses at the start of trading, benchmark U.S. crude jumped 2.6% to $46.60 per barrel in New York. Brent crude, used to price international oils, rose 2.6% to $55.20 per barrel in London. Oil prices fell sharply over the last three months of 2018 as investors reacted to the possibility of weaker demand for energy as economic growth slowed.

Source: Los Angeles Times January 02, 2019 14:57 UTC