Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession. Brent crude was up $2.10, or 8%, at $26.98 a barrel by 0028 GMT after tumbling 13% on Wednesday in a third day of relentless selling. "After a 24% crash, oil prices are firming up on some selling exhaustion and as U.S. and European leaders unleash ... aid and stimulus," said Edward Moya, senior market analyst at OANDA in New York.
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