Crude oil jumps after rout on stimulus hopes but price war weighs
LONDON: Oil prices jumped by around 4 per cent on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although a looming price war weighed on sentiment.
US President Donald Trump on Monday said he will be taking “major” steps to gird the US economy against the impact of the spreading coronavirus outbreak, while Japan’s government plans to spend more than $4 billion in a second package of steps to cope with the virus.
