surged as much as 9% on Friday as investors turned back to the thrashed commodity market.
Contracts for June delivery traded as high as $17.95 per barrel before paring some gains later in the day. The jump follows a similar move on Thursday, marking a brief rally to close a volatile week.The world's most-traded commodity is hot off historic negative prices posted at the start of the week. May contractson Monday before expiring the following day, a first for oil as the coronavirus pandemic pushes demand to the floor.
It will still drop down
LwaziTBE
Look at the temperatures, global warming still happening even though skies are clearer. Ozone damage isn’t correlated to clearer skies... if anything it makes the heat worse :) f you oil companies (besides Sinopec, you were partially responsible for Petroyuan lol).
matt_moore03 💰
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US stocks climb as traders weigh unemployment filings and an oil-market rebound | Markets InsiderUS stocks climbed on Thursday as investors mulled economic data and rebounding oil prices. Jobless claims hit 4.4 million in the week ended Apri...
Source: BusinessInsider - 🏆 729. / 51 Read more »
People posting oil memes after US price drops below $0 for first time - Business InsiderAs oil prices plummeted as a result of the coronavirus pandemic, people made memes on Twitter about becoming oil barons for mere pennies. BrianRivera45
Source: BusinessInsider - 🏆 729. / 51 Read more »
The 18 US cities that could be hardest hit by the oil crash - Business InsiderThese cities, where oil and gas accounts for a large percentage of GDP, could be hardest hit. And the top 5 aren't just in Texas.
Source: BusinessInsider - 🏆 729. / 51 Read more »
US stocks close mixed as virus drug report offsets oil-market surge - Business InsiderThe S&P 500 closed negative after a report showing Gilead's coronavirus vaccine failed to benefit patients in a key trial. So a report from the WHO, that covered up for China and has an axe to grind with America for being defunded. Based on a study done in China, who released this virus and lied about it killing thousands of Americans . That is what disrupts a market rally? REALLY . Unbelievable.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Top U.S. oil ETF plans to diversify investment in later-dated oil contractsThe United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, may begin investing in oil futures contracts expiring in several months, rather than just the front-month and second-month contract, it said in a filing https://bit.ly/2XWrj3L%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B on Wednesday. Your mom Why dont you shove your oil where the sun dont shine. Back in the ground and one other place you dirty people.
Source: Reuters - 🏆 2. / 97 Read more »