Oil rebounds from lowest close in 12 years
Futures rise as much as 5.9% as Opec signals willingness to engage with other producers
London
OIL rebounded from its lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and Opec reiterated its willingness to engage with other producers.
Futures rose as much as 5.9 per cent in New York after settling at the lowest since May 2003. The Stoxx Europe 600 Index rallied from its lowest close since September 2013. The CBOE Crude Oil Volatility Index, which measures expectations of price swings, climbed to the highest level in seven years on Thursday.
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