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Oil prices jump from 17-month lows, lifted by stock-market gains, Russia comments on stability
Crude-oil futures snapped back by some 8% on Wednesday, to break a string of three straight declines, after closing the pre-Christmas session at their lowest since July 2017.
Stock-market gains, including a more-than-1,000-point gain for the Dow industrials DJIA, +4.98% and comments on improved stability for global supplies by Russia’s top energy official, supported prices as markets resumed action.
Russian Energy Minister Alexander Novak said Tuesday that oil prices would become more stable in the first half of 2019.
“I think that during the first half, due to joint efforts, which were confirmed by the OPEC and non-OPEC countries this December, the situation will be more stable, more balanced,” Novak said in a Christmas interview on Rossiya-24 TV, according to Reuters.
...
https://www.marketwatch.com/story/oil-pr...2018-12-26
Crude-oil futures snapped back by some 8% on Wednesday, to break a string of three straight declines, after closing the pre-Christmas session at their lowest since July 2017.
Stock-market gains, including a more-than-1,000-point gain for the Dow industrials DJIA, +4.98% and comments on improved stability for global supplies by Russia’s top energy official, supported prices as markets resumed action.
Russian Energy Minister Alexander Novak said Tuesday that oil prices would become more stable in the first half of 2019.
“I think that during the first half, due to joint efforts, which were confirmed by the OPEC and non-OPEC countries this December, the situation will be more stable, more balanced,” Novak said in a Christmas interview on Rossiya-24 TV, according to Reuters.
...
https://www.marketwatch.com/story/oil-pr...2018-12-26
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