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YGRN - Weekly Energy Recap: Oil Price Fights Infection
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
China will be able to soften the crude oil demand hit from coronavirus after the government reported the lowest number of new cases. (AP/File)
Of greater concern is the big drop in demand for oil in China - especially from Russia
Crude oil prices recorded their second weekly gain despite the pall of coronavirus hanging over commodity markets.
Brent crude advanced to $58.50 per barrel and WTI rose to $53.46 per barrel on optimism that China will be able to soften the crude oil demand hit from coronavirus after the government reported the lowest number