Oil prices up on weak demand and Covid-19 US stimulus package
Crude demand outlook is still low due to travel and commerce restrictions due to the coronavirus pandemic
24 March 2020 - 12:12
Singapore/Melbourne — Oil prices rose about 4% on Tuesday on hopes that the US will soon reach a deal on a $2-trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.
Brent crude oil futures for May delivery rose by $1.05 a barrel, or 3.9%, to $28.08 a barrel by 7.32am GMT while West Texas Intermediate (WTI) crude futures gained $120c, or 5.1%, to $24.56...
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