U.S. crude jumps as big producers set for Doha meet

February 15, 2016 11:58 PM

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U.S. crude jumps as big producers set for Doha meet

TOKYO U.S. oil prices jumped back above $30 a barrel on Tuesday as news of a rare private meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.

U.S. crude CLc1 rose as much as $1.26, or 4.3 percent, to $30.70 per barrel by 2334 GMT (6.34 p.m. ET) as the market reopened following a shortened holiday session, building on Friday's more than 12 percent surge. U.S. crude had been trading at around $29.76 prior to the news.

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