WTI up 22% on hopes of economy reopening

WTI up 22% on hopes of economy reopening
# 22 April 2020 18:40 (UTC +04:00)

After declining sharply earlier in the week, US oil prices recovered some losses on Wednesday as officials asserted coronavirus-related lockdown measures will be lifted soon, hinting economic activities could resume, APA reports citing breakingthenews.net

Last night, the United States Senate passed the fourth coronavirus relief package aimed at supporting the country's economy to survive the coronavirus crisis, while the House is expected to approve the legislation on April 23.

WTI for June delivery soared 22.56% to sell for $14.18 per barrel at 9:40 am ET, while Brent for the same month concurrently gained 9.11% as the price reached $21.10 a barrel.

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