Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.
was up 22 cents, or 0.8%, at $26.56 a barrel by 0415 GMT. was up 42 cents, or 1.9%, at $23.02.
Both of the benchmarks are down nearly two-thirds this year and the slump in economic activity and fuel demand has forced massive retrenchment in investment by oil and other energy companies.
Oil requirements around the world may drop by 20% as 3 billion people are in lockdown, the head of the International Energy Agency said as he called on major producers like Saudi Arabia to help stabilize oil markets.
Miss Call Or Whatsapp-9719098555/8057445599 https://api.whatsapp.com/send?phone=919719098555 www.tradelinecommodity.com