More lift for oil from US easy money hopes
But prospects for demand recovering dim as more countries go into lockdown
25 March 2020 - 07:35
Singapore — Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes that Washington will soon approve a huge aid package to stem the economic effects of the coronavirus pandemic.
US crude touched a high of $25.24 a barrel early in the session and was at $24.82 a barrel, up 81c, or 3.4%, by 0412 GMT. Brent crude was trading up 75c, or 2.8%, at $27.90 a barrel after rising to a high of $28.29...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.