ZCZC
BCN-11
US-ENERGY-OIL-PRICE
Oil prices surge as U.S. equities soar
NEW YORK, Dec. 27, 2018 (BSS/Xinhua) – Oil prices surged on Wednesday,
erasing sharp losses on Christmas eve following equity markets’ strong
rebound from one-and-a-half year low.
Stocks posted their best day in nearly a decade on Wednesday, with the all
three major indexes registering an increase of more than 4 percent.
Crude oil has been caught up in global financial market volatility
recently, especially as the U.S. equities plunged on possible economic
slowdown and rapid interest rate hikes.
The West Texas Intermediate for February delivery rose 3.69 U.S. dollars to
settle at 46.22 dollars a barrel on the New York Mercantile Exchange, while
Brent crude for February delivery increased 4 dollars to close at 54.47
dollars a barrel on the London ICE Futures Exchange.
BSS/XINHUA/HR/1000