Oil pares gains as investors adopt wait-and-see approach
Traders try to assess how effective central bank stimulus will be in shoring up the global economy as shock from the coronavirus pandemic deepens.
19 March 2020 - 09:07
Tokyo — Oil prices rose on Thursday but pared early gains as investors tried to assess how effective huge stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.
Bucking panic selling in other financial markets, Brent crude was up 37c, or 1.1% at $25.25 a barrel by 3.55am GMT, having earlier risen to $27.19. The global benchmark slumped 13% on Wednesday in a third day of relentless selling...
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