Oil prices bounced off 12-year lows

FXStreet (Córdoba) - Oil prices bounced off 12-year lows, with WTI crude futures advancing up to $31.75 a barrel before settling up 2.4% at $31.20/bbl on Nymex.

The recovery spurred some optimism in the financial world, although it's far from confirming a bottom has been reached, as the price remains within the lower half of this week's range, while, even more important, the fundamental background remains the same.

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