Commodity News
HeadLine : Oil ekes out gains as U.S. stimulus hopes lift global markets
Date : Mar 25 2020
U.S. crude touched a high of $25.10 a barrel early in the session and was at $24.61 a barrel, up 60 cents, or 2.5%. Brent crude LCOc1 was trading up 49 cents, or 1.8%, at $27.64 a barrel. The U.S. Congress may vote on Wednesday on the $2 trillion stimulus package which boosted stock markets on Tuesday. demand for oil products, especially jet fuel, is falling worldwide as more governments announce nationwide lockdowns to curb the spread of the coronavirus, putting a lid on oil price gains.  U.S. crude oil stockpiles likely built for a ninth successive week, while inventories of refined products were expected to have dropped last week with gasoline set to decline for the eighth straight week, a Reuters poll showed on Tuesday. 

Source : Investing
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