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2/25, 8:46 AM (Source: TeleTrader)
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Oil prices rise over 1%, restoring yesterday's loss

Prices of oil futures rose on Tuesday, partially recovering from yesterday's tumble caused by coronavirus fears which widely affected markets, while at the same time inducing limitations on travel.

Commenting on the developments, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Barkindo, said that it is too early to call this improvement a major bounce, as there is still the risk of COVID-19 negatively affecting global economic growth.

West Texas Intermediate for April settlement rose 1.01% to $51.88 per barrel at 2:43 am ET. At the same time, Brent futures for deliveries in the same month gained 1.14% to go for $56.83 a barrel.

Breaking the News / ND