(MENAFN- ProactiveInvestors)
West Texas Intermediate crude jumped over 2% overnight as some optimism about curtailing output seemed to permeate markets and ahead of a fresh weekly report on stockpiles.
West Texas Intermediate for delivery in March climbed 2.4% to finish at US$46.23 a barrel on the New York Mercantile Exchange.
The settlement snapped a three-day losing streak.
Prices had weaved in and out of the red earlier in the day trading as low as US$44.81 a barrel and as high as US$46.55 a barrel.
Brent crude for March delivery added 3% to US$49.60 a barrel on London’s ICE Futures Exchange.
Futures earlier hit an intraday low at US$47.67 a barrel and traded as high as US$49.99 a barrel.
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