Crude oil prices jump 10% after biggest rout in 30 years on stimulus hopes

Brent crude futures were up $3.36, nearly 10%, to $37.72 a barrel by 1041 GMT, after hitting a session high of $37.75 a barrel

Oil prices jumped by around 10% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible.

U.S. President Donald Trump on Monday said he will be taking "major" steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak, while Japan's government plans to spend more than $4 billion in a second package of steps to cope with the virus.

Brent crude futures were up $3.36, nearly 10%, to $37.72 a barrel by 1041 GMT, after hitting a session high