Oil rises on Fed steps to support economy, hopes of U.S. aid package
Share:
NEW YORK (Reuters) - Oil rose about 2% on Tuesday after the U.S. Federal Reserve said it would take step to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.The market was substantially off the day's highs, however, and analysts remain pessimistic that oil prices will stage an extended recovery amid the worsening coronavirus pandemic and the ongoing oil price war between Saudi Arabia and Russia.Brent futures gained..