Oil jumps as Trump talks up truce hopes for Saudi-Russia price war(Update 2)

Brent crude futures rose 5.9%, or US$1.46, to $26.20 as of 0418 GMT (1218 Malaysian time), while U.S. West Texas Intermediate (WTI) crude futures were up 4.6% or 94 cents, at $21.25. (File pic shows oil Philips oil storage tanks in Linden, New Jersy, US.)

SINGAPORE: Crude oil futures surged on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to "challenging" oil markets.

Brent crude futures rose 5.9%, or US$1.46, to $26.20 as of 0418 GMT (1218 Malaysian time), while U.S. West Texas Intermediate (WTI) crude futures were up 4.6% or 94 cents, at $21.25.