12-07-2016 17:02 via uk.news.yahoo.com

Oil jumps 2 percent, up from two-month lows on technical support

By Barani Krishnan NEW YORK (Reuters) - Oil prices rose 2 percent on Tuesday to rebound from two-months lows on a technical correction, a dollar weakened by rising risk in global markets and bets that U.S. crude stockpiles fell for an eighth straight week. Saudi Arabia's energy minister also there were hundreds of millions of barrels of surplus crude oil in the global market, although a price above $50 a barrel was required to ensure continued investment in the space. Oil producing group OPEC sa
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