NEW YORK: Oil prices rose more than 2 percent on Tuesday as higher stock prices on Wall Street and expectations of lower US crude inventories lifted the market from the previous day’s slide.
US equity markets rose as consumer confidence in the world’s No. 1 economy hit January highs.
Oil prices could be more volatile than usual until Wednesday, the close of September and third-quarter trading.
Brent, the global oil benchmark, was up $1.15, or 2.4 percent, at $48.49 a barrel by 10:43 a.m.
US crude was up 95 cents, or 2.2 percent, at $45.38.
Brent and US crude up 2%
Brent and US crude up 2%
