Oil and copper prices rose Wednesday, reversing course from their steady drop to start the year in a move that some traders attributed to unconfirmed media reports that a Chinese university found a treatment for the fast-spreading coronavirus.
Brent-crude futures, the global oil benchmark, gained 2.4% to close at $55.28 a barrel. West Texas Intermediate, the main U.S. price, climbed 2.3% to $50.75. Both benchmarks had risen more than 4% during the session and were poised for their best day of 2020 until retreating somewhat.
Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include Monroe Swell, West Brentwood & Grizzly Island, in California, US and West Newton in the UK.