Oil Jumps on Return of Risk Appetite

Commodities' rebound accelerated in the US session as risk appetite returned after better-than-expected retail sales. Investors were also thrilled by encouraging Chinese industrial production with confidence in growth upstaging PBOC's RRR increase. The front-month contract for WTI crude oil reversed losses made earlier in the day and jumped to 99.37 at close. While the rebound narrowed the record WTI-Brent spread, it stayed at elevated level of 20.79.

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Oil Jumps on Return of Risk Appetite