Brent claws its way back from 20-year low; US crude up 20% in wild trade

Brent crude oil rebounded from two days of losses and US futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and US inventory builds that were less dire than some expected. Oil trading has been more volatile than ever in recent days.

The market is overwhelmed by a growing supply glut as demand craters amid governments orders for people to stay at home in order to stop the spread of the coronavirus. US futures fell deep into negative territory on Monday, closing at a record.

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