The price of a barrel of crude varies based on factors such as supply, demand and quality. Supply of fuel has been far above demand since the coronavirus forced billions of people to stop traveling
Most global markets surged as investor appetite for risk assets improved due to the progress of an experimental drug for treating covid-19 and on US's plan to reopen its economy.
The sharp rebound was underpinned by trillion dollars' worth of stimulus packages, announced by major central banks
European stock markets opened stronger, with the pan-European STOXX 600 index rising 0.6 per cent to its highest since March 11
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Sentiment improves as virus spread shows signs of slowing
Many markets have shortened trading hours, and others are mulling whether to follow suit
The Sensex jumped 1,862 points to end at 28,536, while the Nifty50 index rallied 517 points, or 6.6 per cent, to settle at 8,318 - the biggest single-day gains for the benchmark indices since May 2009
The Sensex after climbing to 27,463 settled at 26,674, up 693 points, or 2.7 per cent. The Nifty rose 2.5 per cent, or 191 points, to end at 7,801
Stocks, bonds, gold and commodities fell as the world struggles to contain coronavirus and investors and businesses scramble for hard cash.
The Fed said the Treasury will provide $10 billion of credit protection to the central bank's commercial paper operation
On Sunday, the US central bank slashed interest rates by 100 points to near zero and said it would boost its bond holdings by $700 billion
As valuations come into a more sensible range, take a deep breath and hold your nerve
Global financial market stress driving market volatility; economic impact of coronavirus and drop in oil prices remain uncertain
Mainland China had 15 new infections, down from 24 cases a day earlier, bringing the total to 80,793. The death toll touched 3,169, up by 11 from the previous day
Australia's benchmark fell as much as 7 per cent and is on track for its worst week on record
Doom sentiment in financial markets has hit crypto currencies. Bitcoin fell $1,000 in 15 minutes to trade at $6,000 level
Earlier in the day, Indian stock markets had seen their worst daily crash since 2008 as the pandemic fuelled growth fears for the country's economy
Brent crude futures rose by $2.85, or 8.3%, to $37.21 a barrel by 0605 GMT, while US West Texas Intermediate crude gained $2.46, or 7.9%, to $33.59 a barrel
It followed 15-minute trading halts across U.S. exchanges, triggered by an opening 7% decline in the S&P 500 that set off circuit breakers