Oil ekes out gains as U.S. stimulus hopes lift global markets

By Trend

Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic, Trend reports citing Reuters.

U.S. crude CLc1 touched a high of $25.10 a barrel early in the session and was at $24.61 a barrel, up 60 cents, or 2.5%, by 1243 GMT.

Brent crude LCOc1 was trading up 49 cents, or 1.8%, at $27.64 a barrel.