WTI-Brent spread

Brent crude futures jumped 4% on Tuesday as strong stock markets helped the global oil benchmark recover substantially from a 6% tumble in the previous session.
Anyone driving to work in the treacherous road conditions in the Northeast of the U.S. on Monday might have been forgiven for assuming that demand for heating oil, and therefore crude oil, would be up in response to the shivering temperatures.
The global price of crude extended a rally for a second day amid speculation that oil’s plunge to a five-year low may have been excessive.