Oil prices are rising, investors evaluate the effectiveness of incentive measures

US, WASHINGTON (ORDO NEWS) — Oil prices are rising on Thursday, while investors are trying to figure out how effective large-scale stimulus measures for central banks will support the global economy as the shock from the coronavirus pandemic increases.

Futures for Brent crude rose 4.98% to $ 26.12 per barrel against 9.09 Moscow time, while futures for WTI added 12.62% to $ 22.94.

On Wednesday, Brent fell 13%, WTI collapsed by almost 25%.

“After a 24 percent drop, oil prices are rising amid some selling exhaustion and as US and European leaders launch … help and incentives,” said Edward Moya, senior OANDA market analyst in New York.

The European Central Bank at an emergency meeting on Wednesday announced a new program to buy bonds worth 750 billion euros in an attempt to contain the effects of the coronavirus epidemic on the eurozone economy.


Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: [email protected]

The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.