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Crude rises after U.S., Russia agree to oil market talks


Tuesday, 31 March 2020 08:14 WIB

Minyak WTI


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Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand.

Brent crude was up by 19 cents, or 0.8%, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002.

U.S. crude was up by 59 cents, or 2.9%, at $20.68 a barrel, after settling down at $20.09, the lowest close since February 2002.

Oil markets have faced a double whammy from the coronavirus outbreak and a price war between Saudi Arabia and Russia after OPEC and other producers failed to agree on deeper cuts to support oil prices in early March.

Source: Reuters


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