Oil jumped 7% on trump coronavirus claims

US, WASHINGTON (NEWS OBSERVATORY) — World oil prices accelerated growth on Friday evening, reaching more than 7% against the backdrop of a speech by US President Donald Trump, according to trading data.

As of 22.59 UTC, the price of May futures for the North Sea Brent brand oil mix grew by 4.43%, to 34.66 dollars per barrel. The cost of April futures for WTI crude oil rose by 5.37%, to 33.19 dollars per barrel. Minutes earlier, oil rose in price by more than 7%.

Investors drew attention to Trump’s press conference on the coronavirus, during which he announced the introduction of an emergency regime in the United States, which, he said, would allow up to $ 50 billion to be allocated to fight against coronavirus.

Earlier, during the bidding, oil prices went into the “red zone” due to a new wave of panic due to the coronavirus, but then again moved on to growth.


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