Oil jumps on China export bounce but long-term outlook remains weak

  • Oil prices jumped on Thursday on news that China‚Äôs exports unexpectedly rose last month, and on the back of U.S. output cuts and the slow return of some activity in Europe.
  • Brent crude rose $1.87, or 6.3%, to trade at $31.59 per barrel, after dropping 4% on Wednesday. U.S. West Texas Intermediate futures gained $2.40, or 10%, to trade at $26.39 per barrel, after declining more than 2% in the previous session.

(Source: CNBC)