Oil prices jumped more than 4 percent on Wednesday as the extension of U.S.-China talks raised hopes of easing trade tensions between the two superpowers, while OPEC-led crude output cuts also provided support. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $2.38 to $52.16 a barrel, a 4.8 percent gain, by 1:15 p.m. EST (1815 GMT), the first time this year that WTI has topped $50. Brent crude LCOc1 futures gained $2.48, or 4.2 percent, to $61.20 a barrel. West Texas Intermediate (WTI) crude CLc1 futures for February delivery rose $2.38 to $52.16 a barrel, a 4.8 percent gain. The day’s sharp gains extended a rally that has pushed prices up more than 13 percent in 2019. […]