Oil prices rebounded strongly in Asian trade Tuesday a day after falling to 18-year lows, as investors took heart from moves by policymakers to support the coronavirus-hit global economy.
US benchmark West Texas Intermediate jumped 7.3 percent to $21.5 a barrel while Brent crude, the international benchmark, was up 3.3 percent at $23.5 a barrel.
In New York on Monday, prices struck their lowest levels since 2002, with WTI briefly falling below $20.
Oil markets have plunged as governments across the planet introduce lockdowns to stem the spread of the virus, hammering demand for the commodity.
