Oil rises as markets wait on virus impact and U.S. stockpiles fall
Share:
LONDON (Reuters) - Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles.Brent crude rose 47 cents, or 0.8%, to $59.98 a barrel by 1350 GMT. U.S. crude was up 36 cents, or 0.7%, at $53.84. Financial markets that have been hit by the spread of the virus out of China are trying to assess the economic fallout, with the death toll..