HOUSTON: Oil prices settled higher on Tuesday, rebounding in volatile trading as the market weighed China's plans to support its economy against a possible coronavirus lockdown in its capital Beijing.
Brent crude futures LCOc1 settled up $2.67, or 2.6%, at $104.99 a barrel, while U.S. West Texas Intermediate CLc1 contracts were up $3.16, or 3.2%, at $101.70.
Trading was choppy with Brent touching a session low of $101.08 and WTI $97.06 a barrel, pressured by concerns over demand in China, the world's largest crude oil importer. On Monday, both benchmarks settled down about 4%.
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