Crude rises after US, Russia agree to oil market talks

Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand.

Brent crude was up by 19 cents, or 0.8per cent, at US$22.95 a barrel by 0051 GMT, after closing at US$22.76 in the previous session, the lowest close since November 2002.U.S. crude was up by 59 cents, or 2.9per cent, at US$20.68 a barrel, after settling down at US$20.09, the lowest close since February 2002.

U.S. President Donald Trump and Russian President Vladimir Putin agreed during a phone call on Monday to have their top energy officials discuss stabilizing oil markets, the Kremlin said on Monday.

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US, Russia agree to oil market talks as Trump calls price war 'crazy'WASHINGTON (REUTERS) - US President Donald Trump and Russian President Vladimir Putin agreed during a phone call on Monday (March 30) to have their top energy officials discuss slumping global oil markets, the Kremlin said, as Trump called Russia's price war with Saudi Arabia 'crazy.'. Read more at straitstimes.com.
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