Producers including Shell affected by price war between Saudi Arabia and Russia
Oil prices rallied after a call between US president Donald Trump and his Russian counterpart Vladimir Putin raised hopes that tensions between Moscow and Saudi Arabia may start to ease.
Brent crude prices rose as much as 3.5% to $23.55 overnight, after hitting an 18-year low of less than $23 per barrel on Monday. The global benchmark for oil prices lost some of its gains later on Tuesday, but was still trading just above the $23 level at $23.01, a rise of 1.1%.
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