Oil bounces as investors seek out bargains
Fears of coronavirus spreading beyond China expected to keep weighing on sentiment
25 February 2020 - 08:38
Tokyo — Oil rose on Tuesday as investors snapped up bargains after crude benchmarks dropped almost 4% in the previous session, but fears that the spreading coronavirus could wreak far greater economic damage than initially thought capped gains.
Brent crude rose 29c, or 0.5%, to $56.59 a barrel by 2.12am GMT, after slipping 3.8% on Monday, the largest single-day price fall since February 3. US crude futures climbed 22c, or 0.4%, to $51.65, recovering from a 3.7% drop in the previous session...
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