A man walks by a sign advertising currencies at an exchange office in Moscow. Russia has been badly affected by the slide in oil prices, and the ruble has plunged despite big increases in interest rates as much of Russia’s economy is based on energy. – AP
NEW YORK: Crude prices rebounded from the lowest closing levels since May 2009 as comments from Saudi Arabia's oil minister added to the most volatile market in three years.
West Texas Intermediate climbed as much as 5.2% in New York and Brent 4% in London. A measure of expected WTI futures movements and a gauge of options value was at the highest level since October 2011, data compiled by Bloomberg show.
Already a subscriber? Log in.
Celebrate Merdeka with 50% Off!
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
