KONTAN.CO.ID - LONDON. Oil prices extended gains on Tuesday on expectations that central banks will provide financial stimulus to offset the impact of the coronavirus outbreak and on growing optimism that OPEC will order deeper output cuts this week. Tuesday (3/3) 18.45 WIB, Brent crude rose US$ 1.36 per barrel, or 2.6%, to US$ 53.26 per barrel. U.S. crude West Texas Intermediate (WTI) was up US$ 1.48 cents, or 3.2%, at US$ 48.23 a barrel. Brent and WTI have rebounded somewhat over the past two days after sliding more than 20% from their January peak on signs the spread of the coronavirus had dented fuel demand.
Oil extends gains on expectations for coordinated effort to offset coronavirus impact
KONTAN.CO.ID - LONDON. Oil prices extended gains on Tuesday on expectations that central banks will provide financial stimulus to offset the impact of the coronavirus outbreak and on growing optimism that OPEC will order deeper output cuts this week. Tuesday (3/3) 18.45 WIB, Brent crude rose US$ 1.36 per barrel, or 2.6%, to US$ 53.26 per barrel. U.S. crude West Texas Intermediate (WTI) was up US$ 1.48 cents, or 3.2%, at US$ 48.23 a barrel. Brent and WTI have rebounded somewhat over the past two days after sliding more than 20% from their January peak on signs the spread of the coronavirus had dented fuel demand.