Oil jumps 2% as possible delay of U.S. tariffs on Mexico boosts equities - Reuters

Oil jumps 2% as possible delay of U.S. tariffs on Mexico boosts equities - Reuters:

Oil prices jumped more than 2% on Thursday, reversing course after falling to near five-month lows in the previous session, following a report that the United States could postpone tariffs on Mexico.

Brent crude futures settled at $61.67 a barrel, gaining $1.04, or 1.7%. U.S. West Texas Intermediate crude futures settled at $52.59 a barrel, up 91 cents, or 1.8%. The benchmarks both rallied more than 2% in post-settlement trade.

U.S. stocks, which oil prices tend to follow, spiked after Bloomberg News reported the United States is considering a delay in the tariffs as talks continue.