NEW YORK, Jan. 13 -- Crude prices rebounded slightly on Tuesday after U.S. Federal Reserve Chairman Ben Bernanke said the stimulus package could boost economy.
Bernanke said in London on Tuesday that the possible U.S. stimulus package could provide a significant boost to economic activity.
Also on Tuesday, the U.S. Commerce Department said that the country's trade deficit plunged to the lowest level in five years as the deepening recession slashed demand for oil.
Light, sweet crude for February delivery rose 19 cents to settle at 37.78 U.S. dollars a barrel on the New York Mercantile Exchange after hitting 36.10 dollars.
In London, February Brent crude rose 1.92 dollars to settle at 44.83 dollars a barrel on the ICE Futures exchange.
Bernanke said in London on Tuesday that the possible U.S. stimulus package could provide a significant boost to economic activity.
Also on Tuesday, the U.S. Commerce Department said that the country's trade deficit plunged to the lowest level in five years as the deepening recession slashed demand for oil.
Light, sweet crude for February delivery rose 19 cents to settle at 37.78 U.S. dollars a barrel on the New York Mercantile Exchange after hitting 36.10 dollars.
In London, February Brent crude rose 1.92 dollars to settle at 44.83 dollars a barrel on the ICE Futures exchange.
