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Oil ends solidly higher as China moves to support economy

38130 oil ends solidly higher as china moves to support economy

Oil futures rose Tuesday, with the U.S. benchmark finishing back above the $100-a-barrel threshold as China’s central bank said it would aim to assist small businesses and industries affected by COVID-19. Also, Germany said it would take steps aimed at replacing Russian oil supplies in coming days, news reports said. Russia will also halt natural-gas flows to Poland on Wednesday, reports said. West Texas Intermediate crude for June delivery CL00, +0.29% [s:cl1] CLM22, +0.29% rose $3.16, or 3.2%, to close at $101.70 a barrel on the New York Mercantile Exchange.

Source: Marketwatch

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