Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts(Update)

Brent crude was up by 72 cents, or 2.3%, at US$32.59 per barrel by 0044 GMT after falling 3.6% on Tuesday. U.S. West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session.

SEOUL: Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.

Brent crude was up by 72 cents, or 2.3%, at US$32.59 per barrel by 0044 GMT after falling 3.6% on Tuesday. U.S. West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session.