⁍ Oil prices surged 6% on Monday after doctors said U.S. President Donald Trump could soon be discharged from the hospital where he is being treated for COVID-19.
⁍ Prices slumped more than 4% on Friday following Trump’s diagnosis.
⁍ Six Norwegian offshore oil and gas fields were shut as more workers joined a strike.
– Oil prices surged 6% on Monday after doctors said President Trump could soon be discharged from the hospital where he is being treated for coronavirus. “A lot of people thought last week’s selloff was overdone,’ said Phil Flynn, senior analyst at Price Futures Group in Chicago. “There were a lot of assumptions.’ Prices slumped more than 4% on Friday following Trump’s diagnosis. Trump’s medical condition remained unclear as he began a fourth day at the military hospital where he is being treated, but his doctors have said he could be discharged as soon as Monday, which improved market sentiment. Hopes for a US stimulus package to counter the economic impacts of the pandemic also lent some support to prices, reports Reuters.
Source: https://www.reuters.com/article/global-oil/update-8-oil-jumps-6-on-trump-health-update-norway-shutdowns-idUSL4N2GW0F2