Oil surged as China pledged to boost fiscal spending
Oil surged as China pledged to boost fiscal spending
International benchmarks for crude oil surged on Tuesday, 26 April 2022 after China pledged to step up prudent monetary policy to support the economy against the pandemic. Any form of stimulus would boost oil demand.
Brent gained $2.67 or 2.6% to close at $104.99/barrel.
WTI jumped $3.16 or 3.2% to close at $101.70/barrel.