Oil Prices: Up Nearly $4 Day After Christmas, Biggest Gain in Two Years
Crude gained as U.S. equities rebounded and Russia signaled that OPEC and its partners would be willing to meet as needed to help manage the oil market.
Follow Texas Land & Oil Co.
Futures in New York rose as much as 8.2 percent on Wednesday, the biggest climb since November 2016, amid thin post-holiday trading volume. The surge restores the U.S. oil benchmark to where it was before the Christmas Eve selloff. It came as equities had their first advance in five days, following assurance from the White House that Federal Reserve Chair Jerome Powell’s job is secure. President Donald Trump also expressed confidence in the U.S. economy. [read more]