SINGAPORE (Reuters) - The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.
NEW YORK (Reuters) - Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession.
Signs that Saudi Arabia and Russia may end an oil feud sent prices up more than 20% on Wednesday, the biggest one-day leap on record.
New York (CNN Business)Hopes are building for a truce in the brutal oil price war between Saudi Arabia and Russia, setting off a record spike in the oil market Thursday.
MELBOURNE (Reuters) - Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war.
U.S. oil prices retreated Wednesday, erasing gains from the previous session in a move that underscored how traders are bracing themselves for further declines ahead. West Texas Intermediate futures fell 0.8% to to $20.31 a barrel on Wednesday, while Brent, the global gauge of prices, fell 6.1% to $24,74 a barrel.