Oil rallies on Gulf tensions and output cuts

Oil rallies on Gulf tensions and output cuts
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27.04.2020

MOSCOW (MRC) -- Oil rose on Thursday, spurred by rising tensions in the Middle East, output cuts by producing nations to tackle oversupply and the promise of more government stimulus to ease the economic pain of the new coronavirus pandemic, reported Reuters.Brent crude was up US1.60, or 7.8%, at USD21.97 per barrel by 1123 GMT. US crude rose USD1.74, or 12.6%, at USD15.52 a barrel.Oil pr

Full article at mrcplast.com

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