Shares of energy companies rallied amid renewed hope for coronavirus stimulus and production-cap extensions.
Democratic congressional leaders said the recently floated bipartisan plan for a $908 billion stimulus bill would be the starting point for negotiations between the two parties.
Representatives of OPEC+, the alliance of oil producing nations led by Saudi Arabia and Russia, are set to meet again Thursday after failing to reach a deal on production targets Monday.
The odds that the producers target a one-million-barrels-per-day production hike in January and a further one million increase in June is 60%, estimated Kathleen Kelley, head of investment advisory Queensgate Capital, as reported earlier.
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(END) Dow Jones Newswires