Brent crude oil futures rallied in the final minutes of trading on Wednesday, climbing more than 5 per cent to $48.97 a barrel on the New York Mercantile Exchange, reversing earlier losses in the day. The gain follows four consecutive days of losses that took the commodity to a near six-year low. WTI, the US oil standard also climbed briskly in late-afternoon trading on Wednesday, rising 5.6 per cent to settle at $48.48 a barrel. The late day rally helped buoy shares of energy companies, which had fallen as much as 2.6 per cent in earlier trading.
Posted on: Wed, 14 Jan 2015 21:07:28 +0000
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