Oil rises 2% as recession fears recede - Reuters

Oil rises 2% as recession fears recede - Reuters:

Crude oil prices rose more than 2% on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world’s biggest economy.

Brent crude LCOc1 was up 2% at $59.48 a barrel at 0924 GMT, after falling 2.1% on Thursday and 3% the previous day. U.S. crude CLc1 was also 2% higher at $55.60 a barrel, having dropped 1.4% in the previous session and 3.3% on Wednesday.