Oil jumps 3% on EU stimulus deal

Oil prices gained more than 3% to hit a more than four-month high on Tuesday, helped by positive news about coronavirus vaccine trials and a European Union stimulus deal.

Brent crude rose $1.39, or 3.2%, to $44.67 a barrel by 11:19 a.m. EDT (1519 GMT). West Texas Intermediate (WTI) jumped $1.36, or 3.3%, to $42.17 a barrel. Both benchmarks were at their strongest since March 6.