Financial news
Written by: Jingjing He
2020-03-14 07:41
Last updated: 2020-03-14 07:42US President Trump announced that he had instructed the Department of Energy to buy oil from the market and replenish its crude oil strategic reserves, which caused international oil prices to rise by 5%. But for the whole week, international oil prices still have to fall by more than 23%, the biggest weekly decline since December 2008.
New York oil closed up 23 cents, or 0.7%, to 31.73 US dollars a barrel, and fell 23% this week. Lun Oil closed up 63 US cents, or 1.9%, to US $ 33.85 per barrel, and fell 25% this week.
Trump said that the price of crude oil is now very attractive and it is an opportunity to replenish strategic reserves, which can save taxpayers money and indirectly help the U.S. energy industry. Reserve cap. According to statistics, the US crude oil strategic reserve level is 92 million barrels away from the upper limit.
Oil price