Oil jumps 3% towards $28 on Fed steps to support economy
- Date: 24-Mar-2020
- Source: Reuters
- Sector:Oil & Gas
- Country:Middle East
Oil jumps 3% towards $28 on Fed steps to support economy
LONDON (Reuters) - Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S.. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.. The expected stimulus pushed the U.S. dollar lower against other currencies .DXY.. A weaker dollar tends to support the price of oil and other dollar-denominated commodities..