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Oil prices rise 2% after stock market recovery
Oil prices surged more than 2% on Tuesday, supported by the stock market recovery as fears of a US-China trade war ebbed.
Global Brent crude for Brent crude futures rose $ 1.54 to settle at $ 68.65 a barrel, Reuters reported. Brent rose 2.3 percent on Monday, marking its biggest daily percentage gain since March 21.
US WTI crude futures rose $ 1.36 to settle at $ 63.42 a barrel, up 2.2 percent to record its biggest daily percentage gain since March 23.
The US stock market has generally rallied more than 1%, boosted by the strength of technology stocks and US policymakers have adopted a less hawkish attitude towards trade with China, boosting a recovery from last week's losses.
Oil prices fell about 2 percent on Friday after US President Donald Trump threatened to impose new tariffs on China to reignite fears of a trade war between the world's two largest economies.
Market participants also focused on an air strike on a Syrian air base last night. Syria and Russia on Monday blamed Israel for the attack on al Qaeda near Homs.
Analysts said concerns over the repercussions of the intensification of the conflict in Syria, and its main ally Russia, pushed oil prices up. Finished
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