A US snowstorm pushed crude oil prices to pre-pandemic levels Tuesday, while global stocks extended rallies on hopes for more US fiscal stimulus.
Silver prices meanwhile sank by 6.7 per cent to $27.10 per ounce, having soared the previous day to an eight-year peak on chatroom-driven demand.
Asian and European stocks fired higher after overnight Wall Street gains, as investors got back in the saddle following last week’s global rout to snap up bargain shares.
“The new month continues to be good to equities, which have thrown off their late January despair and staged an impressive bounce from the lows of last week,” said IG analyst Chris Beauchamp.
