GLOBAL MARKETS-Oil jumps on OPEC deal; bond rout resumes

[Reuters – UK Focus] – Oil jumped on Wednesday as OPEC members clinched a deal to cut production, while upbeat U.S. economic data and comments from the U.S. Treasury Secretary nominee triggered a selloff in the bond market. Higher crude prices bolstered shares of energy producers and stock prices around the world, with the Dow and S&P 500 hitting record highs. The Organization of the Petroleum Exporting Countries has agreed its first output limiting deal in eight years in an effort to deal with global supply overhang, an OPEC source told Reuters as the debates continued in Vienna on the exact size of each member’s cuts.

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