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Oil prices recover


SINGAPORE - SANA: Oil prices witnessed a strong rebound in Asian trading today, after a day of its decline to the lowest level


Oil prices witnessed a strong recovery in Asian trading today, after a day of its decline to its lowest level in 18 years, while strengthening the steps of decision makers to support the global economy affected by the Corona virus, the confidence of investors.

According to the French Press Agency, Texas Intermediate crude oil rose by 7.3 percent to record 21.5 dollars per barrel, while Brent International benchmark crude increased by 3.3 percent to reach 23.5 dollars per barrel.

In New York, prices fell yesterday to their lowest levels since 2002, with the West Texas Intermediate barrel dropping to less than $ 20.

Oil markets retreated at a time when world governments imposed complete isolation measures to prevent the spread of the virus, which caused a decrease in demand for crude.

Source: sena

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