Oil prices rise about 3%
16:22, 11 May 2016
NEW YORK. KAZINFORM: Oil prices rose about 3 percent on Tuesday, recovering a chunk off losses from the previous session, as supply disruptions of 2.5 million barrels per day in Canada and elsewhere offset concerns about growing record high US crude stockpiles.
Brent crude futures were up $1.40, or 3.2 percent, at $45.03 per barrel by 11 a.m. EDT (1500 GMT). On Monday, it fell 3.8 percent.
US crude's West Texas Intermediate (WTI) futures rose 87 cents, or 2 percent, to $44.31.
Refined products were also firmer, with US gasoline futures gaining 2 percent and ultralow sulfur diesel , also known as heating oil, soaring 3 percent. Both had fallen about 4 percent in the previous session.
Source: Arab News