
Oil rises a second day as stimulus hopes, expected OPEC cuts offset virus
Tuesday, March 3, 2020, 5:45 PM
Oil prices rose for a second day on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that Opec will order deeper output cuts this week. Brent crude rose $1.48/barrel, or 2.5%, to $53.18/barrel at 0148 GMT. US West Texas Intermediate (WTI) rose $1.33, or 2.8%, to $48.07 a barrel.
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