Oil jumps more than 4% on hopes for ECB stimulus and trade war optimism
WTI crude oil is up $2.20 to $54.10 in the best day for crude since January.
The hope is that a combination of central bank easing (Fed and ECB) along with a better tone on the US-China trade war leads to better demand for oil. Much of the drop from $62 was related to trade fears so that's a reasonable target for a rebound.
The main short-term level to watch is the June 10 high of $54.84.