Oil prices settle with a gain of more than 4%

Oil futures rallied on Wednesday, with U.S. prices scoring their largest one-day gain in about two months, tracking sharp gains in the U.S. stock market, as easing tensions in Hong Kong provided a boost to riskier assets. Traders also looked ahead to the release of a U.S. government report Thursday, which may reveal a third consecutive weekly decline in U.S. crude supplies. October West Texas Intermediate oil rose $2.32, or 4.3%, to settle at $56.26 a barrel on the New York Mercantile Exchange.

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