U.S. crude oil futures rose 5% on the open on Thursday, reversing Wednesday's losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic.
FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. Picture taken November 24, 2019. REUTERS/Angus Mordant/File Photo
MELBOURNE - U.S. crude oil futures rose 5% on the open on Thursday, reversing Wednesday’s losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic. U.S. West Texas Intermediate crude CLc1 futures rose as much as $1.13 to a high of $21.44 at the open, and were at $21.26 as of 2209 GMT.
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