Oil prices jumped by 4 percent early on Tuesday after the U.S. Federal Reserve launched on Monday extensive new measures to support the economy as the coronavirus pandemic spreads. But prices slid later in the morning. At 9:34 a.m. EDT on Tuesday, WTI Crude was up 3.98 percent on the day at $24.41, and Brent Crude was trading above the $30 a barrel mark, at $30.47, up by 3.86 percent. By 11:11 a.m, WTI had fallen to $23.32, down 0.17% over Monday. On Monday, the Federal Reserve on Monday said it was “committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time.” The Fed is establishing facilities to support credit to companies, including by buying on the secondary market a) corporate bonds issued by investment-grade U.S. companies, and b) facilities to ease the flow of credit to consumers, […]