(Bloomberg) — Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.Futures in New York rose around 5% past $24 a barrel, following gains on Monday as the U.S. central bank said it would buy unlimited amounts of Treasury bonds and mortgage-backed securities and also set up programs to ensure credit flows to corporations as well as state and local governments. The Fed action came as a U.S. fiscal rescue package remains stalled.Meanwhile, U.S. Energy …read more
Source:: Yahoo Finance
