Oil on firmer footing after five-day battering
Talk from Opec+ of extending oil cuts and a decline in US stockpiles provide some steadiness
29 January 2020 - 07:14
Tokyo — Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that Opec (Organisation of Petroleum Exporting Countries) could extend oil cuts if a new coronavirus from China hurts demand, while data showing a decline in US stockpiles also helped steady prices.
Brent crude rose 85c, or 1.43%, to $60.36 a barrel by 0418 GMT. US crude was up 75c, or 1.4%, at $54.23 a barrel...
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