September 29, 2020

Oil rockets as Trump signals end to price war

Oil rockets as Trump signals end to price war

Oil prices rocketed Thursday, posting the largeset percent increase ever, after US President Donald Trump said Russia and Saudi Arabia planned to end their price war by slashing output. After Trump tweeted that Saudi and Russia could slash production by up to 15 million barrels, Brent hit $36.29 a barrel, up almost 46 percent, and West Texas Intermediate soared around 35 percent to $27.39.

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