Oil prices rally more than 2% after slump
But analysts say market sentiment remains bearish
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
London
OIL prices rallied more than 2 per cent on Thursday, clawing back part of a 6 per cent slump triggered by a jump in US crude inventories and record Saudi output, although analysts said sentiment remained bearish.
A 10.95-million-barrel surge in US crude stockpiles to an all-time high of 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day (bpd) in March battered crude on Wednesday.
Share with us your feedback on BT's products and services
TRENDING NOW
‘We’ve seen the worst-case scenario’: How Indonesia’s Cinema XXI navigated crisis and change
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Auditors flag uncertainty on Katrina Group’s ability to continue as a going concern
