Brent crude up 8.4% in wild swing after hitting lowest since 1999

NEW YORK (Reuters) - Brent crude oil rose 8.4% on Wednesday, as prospects for extra pledges from major producers to cut output prompted a sharp turn up off a session low that took the global benchmark below $16 a barrel to its lowest since 1999.Oil trading has been more volatile than ever in recent days on prospects that a historic supply glut will swell even further as coronavirus lockdowns slash demand for fuel. Brent touched $15.98 a barrel, its lowest since June 1999. By 1458 GMT, it was up..