Brent crude and WTI have turned sharply around after tumbling to fresh 5-1/2 year lows overnight on OPEC's announcement that it will not cut output even if prices fall as low as $40/bbl. The rally is pushing European shares higher. Brent crude is up 1.1% at $62.55, after hovering close to $60/bbl yesterday. WTI fell below $57 last night, but is now up 0.7% at $58.22 per barrel.