Price volatility: Idled drilling rigs stand at a business park in Midland, Texas last week. WTI June futures slumped more than 21% to near US$10 a barrel on Tuesday before paring most of their losses. — Bloomberg
NEW YORK: Oil climbed after losing more than a quarter of its value over the past two days with volatility likely to continue on concern prices may drop below zero again as investors and a major fund exit the June contract.
Futures added 14% in New York after dropping Tuesday as S&P Global Inc told clients to immediately sell their stakes in West Texas Intermediate (WTI) for June delivery into July crude.
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