Oil prices rose for a second day on Tuesday on expectations that central banks a...
SEOUL - Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.
Brent and WTI have rebounded somewhat over the past two days from a more than 20% drop from their 2020 peak in January that was caused by signs the coronavirus spread has dented fuel demand. G7 finance ministers will also discuss this week how to best to cushion the impact of the outbreak on economic growth, French Finance Minister Le Maire said on Monday. That is occurring as other major central banks have promised monetary and fiscal stimulus.
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