While you were sleeping: Stocks, oil rally

Wed, 17 Feb 2016

By Margreet Dietz Feb. 18 (BusinessDesk) - Equities on both sides of the Atlantic rallied with the price of oil on hopes efforts to ease the global glut are progressing. West Texas Intermediate crude rallied more than 5 percent, while Brent climbed more than 7 percent, a day after Saudi Arabia and Russia made significant headway towards an agreement on checking rising output. Iran said it supported the plan but stopped short of saying whether it would curtail its own output. “This is the first step and other steps should also be t...

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