Crude-oil futures staged a late rally and climbed above $52 on the New York Mercantile Exchange, after dropping to a new 20-month low but finding support just above $50 a barrel.
Here is Wednesday’s roundup of oil and energy news:
•CHINA DEAL MAY CALM MARKETS: The International Energy Agency is close to an agreement with China that would increase the transparency of the country’s plans for its strategic petroleum reserves, the IEA’s chief said, a development that could ease volatility in global oil prices.