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2020-04-03 12:05:00

#OilPriceWar: OPEC+ NOT ENOUGH

#OilPriceWar: OPEC+ NOT ENOUGH

PLATTS - 02 Apr 2020 - Crude prices settled sharply higher Thursday amid optimism of a possible detente in the ongoing Russia-Saudi oil price war.

NYMEX May WTI settled $5.01 higher at $25.32/b and ICE June Brent was up $5.20 on the day at $29.94/b.

Crude futures surged midday Thursday after US President Donald Trump tweeted that he had spoken by phone with Saudi Crown Prince Mohammed bin Salman, who in turn called Russian President Vladimir Putin to heal their oil market rift.

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