London — Benchmark Brent crude oil futures reversed losses incurred during Asian hours in early European trading on Friday to rise above $30 a barrel, with hopes of a huge global supply cut deal to support prices still alive.

Brent crude futures were up 7%, or $2.10, at $32.04 per barrel by 7.48am GMT. Brent soared as much as 47% during Thursday's session, its highest intraday percentage gain ever, before closing 21% higher, but still at less than half the $66 it was trading at the end of 2019...

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