BUSINESS Oil prices rebound after ECB launches virus measures

BUSINESS

Oil prices rebound after ECB launches virus measures

AFP

08:34, March 19, 2020

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File photo: CGTN

US oil prices rebounded by 17 percent Thursday after hitting their lowest levels since 2002, as the European Central Bank launched a massive bond-buying scheme to combat the coronavirus pandemic.

US benchmark West Texas Intermediate jumped 17.2 percent to nearly $24 a barrel, a day after plunging 24 percent. London's Brent crude was up 8.5 percent at $27 a barrel.

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