MarketWatch | US crude surges 12% on output-cut hopes, short covering CNBC Oil prices jumped as much as 12 percent at their peak on Friday, with U.S. crude tracking for its best day since February 2009, on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates. Oil rebounds after more jawboning from OPEC members Oil claws higher, but weekly loss looms on supply excess Crude Oil Futures Surge After Closing at Lowest in 12 Years |