Oil traders have faith

Oil traders have faith

 

  • U.S. stocks jumped and the S&P 500 breached 3,000 point as a revival in business activity helped investors overlook simmering Sino-U.S. tensions
  • Speculative US Dollar shorts get slashed as investors turned defensive on risk-sensitive currencies amid US-China tensions
  • Oil prices rose, supported by growing confidence that producers are following through on commitments to cut supplies


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