Oil extends gains as optimism over US stimulus lifts global markets
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
U.S. crude touched a high of $25.24 a barrel early in the session and was at $24.82 a barrel, up 81 cents, or 3.4%, by 0412 GMT.
Brent crude was trading up 75 cents, or 2.8%, at $27.90 a barrel after rising to a high of $28.29.
The U.S. Congress may vote on Wednesday on the $2 trillion stimulus after Republicans and Democrats said they were close to a deal, with optimism over the package fueling a surge in stock markets.
