Oil extends gains after signs US will intervene in price war
US plans to buy oil for emergency stockpile and President Donald Trump may mediate to end the price war between Saudi Arabia and Russia
20 March 2020 - 07:30
Singapore — US crude oil prices rose more than $1 on Friday, extending steep gains from the previous session, after President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia at an “appropriate time”.
Prices were also supported by the US’s plans to buy oil for its emergency stockpile, while regulators in the country’s largest oil-producing state Texas were reportedly considering curtailing production...
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