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Oil Jumps as Possible Delay for Mexico Tariffs Dispels Gloom

  • New York futures surge in waning minutes of trading session
  • Talks on illegal immigration continue as trade deadline nears
Refineries As U.S. Companies Talk Expansion After Tax Gains
Photographer: Luke Sharrett/Bloomberg
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Oil staged a late-session revival to post the biggest daily advance in six weeks, a day after worries about an oversupply pushed prices into a bear market.

After hovering near a five-month low for most of Thursday, futures jumped in the final 30 minutes of the session to close 1.8% higher in New York. The move came as Mexican officials said they were making progress in talks with American counterparts, while the U.S. considers delaying threatened tariffs.