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Oil prices recover ground after market turmoil fuels price plunge | Malay Mail

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TOKYO, April 22 — Oil prices found some respite today as US oil futures rose more than 20 per cent and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. After falling into negative territory for the first time in...

Wednesday, 22 Apr 2020 09:44 AM MYT

TOKYO, April 22 — Oil prices found some respite today as US oil futures rose more than 20 per cent and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. "Global markets are struggling mightily with a temporary but overwhelming demand drop due to the coronavirus pandemic," said Stephen Innes, global markets strategist at AxiCorp, warning that prices could tumble further as storage fills up.

 

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