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Oil Mixed On Stimulus Hopes And Demands Fears

Friday, 27 March 2020 18:06 WIB Minyak WTI Brent

Oil prices were mixed on Friday as the market weighed the potential benefits of stimulus efforts by policymakers around the world against demand destruction caused by fallout from the rapid spread of the coronavirus. Brent crude was on track for its fifth consecutive weekly drop. By 09:22 GMT, it was down 40 cents, or 1.5%, at $25.94 a barrel. U.S. crude was up 11 cents, or 0.5%, at $22.71. Both of the benchmarks are down nearly two-thirds this year and the slump in economic activity and fuel demand because of the coronavirus crisis has forced massive retrenchment in investment by oil and other energy companies. Source : Reuters

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