Crude recovers losses as travel industry looks to rebound

Crude recovers losses as travel industry looks to rebound
# 04 May 2020 18:51 (UTC +04:00)

Prices of oil recovered losses recorded earlier today to trade in the green territory on Monday as investors focus on the travel industry's efforts to curb the coronavirus effect, APA reports citing Tele Trader.

The European Commission approved a €7 billion French state aid for Air France, while the German government and Lufthansa reportedly got close to reaching a deal on state support for the largest European commercial airline. Meanwhile, another report said that South Korean vehicle manufacturers Hyundai and Kia are ready to restart their production in the United States-based plants this week as COVID-19 worries subside.

Brent for deliveries in July added 2.04% to sell for $26.98 per barrel at 10:17 am ET, while West Texas Intermediate (WTI) jumped 2.38% to go for $20.25 per barrel a minute later.

#
#

THE OPERATION IS BEING PERFORMED