Oil Jumps On U.S. Stimulus Hopes

Following the biggest daily slide in three weeks on Wednesday, oil prices rose by more than 2 percent on Thursday morning after House Speaker Nancy Pelosi instilled hope in the markets that a deal on a new U.S. stimulus package could be imminent. As of 11:37 a.m. EDT on Thursday, WTI Crude was rising by 2.25 percent at $40.94, and Brent Crude prices were up 2.28 percent at $42.70. Oil prices were only slightly up in earlier trade, but extended gains after Speaker Pelosi said that talks with Treasury Secretary Steven Mnuchin continue and a deal…