Oil rockets higher, boosting global equities


New York (AFP) – Beaten-down US oil prices rallied Wednesday following dramatic declines earlier this week, lifting global equities, even as American crude inventories surged closer to capacity levels.Futures for the benchmark West Texas Intermediate for June delivery jumped 19 percent to $13.78 a barrel in New York. WTI sank into negative territory on Monday for the first time, but that was for the May contract that expired Tuesday.The price surge Wednesday came after US President Donald Trump threatened to shoot at Iranian boats in a key waterway for crude shipments after Washington accused …

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