Oil pared some of Tuesday’s rebound as Saudi Arabia and Russia announced large supply boosts, escalating the country’s price feud even as the coronavirus squeezes demand. Brent futures traded near $35 a barrel in London, shedding about $1.50 in the minutes after Saudi Aramco said it will provide customers with 12.3 million barrels a day in April, exceeding the kingdom’s maximum rate of production. Russia could add about 500,000 barrels a day in the near future, said Energy Minister Alexander Novak. Yet Brent remained 4% higher on the day, bouncing after losing a quarter of its value on Monday — the biggest plunge since the 1991 Gulf War — after the pact between Riyadh and Moscow to manage supplies collapsed in acrimony. Volatility soars as oil markets deal with simultaneous supply and demand shocks Saudi Arabia slashed its official crude pricing over the weekend and is threatening to raise […]