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Crude oil price shoots up

In the international market the price of crude oil has again surged on Tuesday.  The crude oil prices rised as the US President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilising prices.Trump and Putin agreed during a phone conversation   to have their top energy officials discuss stabilising oil markets.

WTI Crude rised over 6% to $21.31 per barrel while Brent gained 2.27% to $27.02 on Tuesday morning. Crude  oil price has declined to  an 18-year low on Monday as the coronavirus shutdown destroyed demand.

The crude oil market were affected by both Covid-19 pandemic and the trade war between Saudi Arabia and Russia.

 

 

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