Oil ends solidly higher as China moves to support economy


Oil futures rose Tuesday, with the U.S. benchmark finishing back above the $100-a-barrel threshold as China’s central bank said it would aim to assist small businesses and industries affected by COVID-19. Also, Germany said it would take steps aimed at replacing Russian oil supplies in coming days, news reports said. Russia will also halt natural-gas flows to Poland on Wednesday, reports said. West Texas Intermediate crude for June delivery CL00, +3.65% [s:cl1] CLM22, +3.65% rose $3.16, or 3.2%, to close at $101.70 a barrel on the New York Mercantile Exchange.

This article was originally published by Marketwatch.com. Read the original article here.

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