Oil rises from 18-year lows after U.S., Russia agree to talks

31 Mar, 2020

General view of oil tanks and the ConocoPhillips' Bayway Refinery in Linden, New Jersey, U.S., March 30, 2020. REUTERS/Mike Segar

Oil recovered ground after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets.

Trump and Putin agreed during a phone call to have their top energy officials discuss stabilizing oil markets, the Kremlin said.

“Oil prices are clawing back from a near 18-year low on hopes that oversupply concerns may finally see some relief,” said Edward Moya, senior market analyst at broker OANDA.

“Much of the focus has fallen on a key call between the Presidents of the United States and Russia.”

Source: Reuters

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