Global stock markets buoyed as Brent crude tops $30 a barrel | Business | The Guardian:
Oil prices have jumped more than 13% after reports that China’s stuttering recovery was beginning to make ground.
Stock markets also made gains, despite a decision by the German constitutional court that appeared to undermine efforts by the European Central Bank (ECB) to orchestrate a eurozone-wide stimulus plan.
The price of Brent crude surged 13.05% to $30.75 a barrel on Tuesday, to continue a week-long increase from below $20.
Analysts said while the better news from China had improved the outlook for oil consumption, there was still a glut of oil on world markets and prices were likely to stay low for the rest of the year.
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