Oil prices surge nearly 20% as investors hail coronavirus stimulus spending


Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession. Brent crude was up $2.10, or 8%, at $26.98 a barrel by 0028 GMT after tumbling 13% on Wednesday in a third day of relentless selling.

US oil gained $3.44, or 17%, to $23.81 a barrel after slumping nearly 25% in the previous session. "After a 24% crash, oil prices are firming up on.

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