LIVE CRUDE OIL NEWS UPDATED BY OCTAMX

© Reuters.

Oil prices settled mixed on Tuesday after an emergency rate cut by the Federal Reserve was tempered by uncertainties ahead of an OPEC meeting on production cuts. Tuesday’s rebound came after the Federal Reserve cut the key lending rate cut by half a point ahead of its scheduled March 18 meeting. The Fed briefly boosted optimism among investors expecting stimulus for markets battered by the coronavirus epidemic. Earlier on Tuesday, WTI and Brent rallied about 4% each before falling back on concerns over what OPEC would decide later in the week.

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