Source: Bloomberg
Source: Bloomberg
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Oil price continues recovery, US indices follow

Oil prices jumped above $48 Tuesday and have continued rise into Wednesday

March 15, 2017 8:35 PM (UTC+8)

After oil prices dragged down US indices earlier this week, prices recovered late yesterday, pulling stocks up with them. The rebound in price came after a report that US crude oil stockpiles were in decline, while Tuesday’s OPEC report also showed the Saudi Arabian production reported climbed back up above 10 million barrels a day in February.