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NEW YORK (Reuters) – Oil prices jumped nearly 4 percent on Tuesday after the US announced a 10 percent carryback of tariffs on some Chinese products. The last
Chinese products include laptops and cell phones. The new fees are due to come into effect next month.
Brent futures rose $ 2.21, or 3.81%, to $ 60.82 per barrel at 15:30 GMT.
US crude increased $ 2.03, or 3.7%, to $ 56.96 per barrel.
Before Tuesday's gains, Brent was down more than 20% since its peak of 2019 in April.
Earlier Tuesday, Brent's premium on US crude dropped to its lowest level since March 2018.
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