Oil prices skyrocket after Trump statement

US, WASHINGTON (ORDO NEWS) — Oil prices have risen markedly amid US President Donald Trump‘s statement about his conversation with the Crown Prince of Saudi Arabia, Mohammed bin Salman, about oil prices.

The price of Brent crude rose 23.36% to $ 30.52 per barrel. May futures for WTI crude oil rise in price by 24.86%, to $ 25.36 per barrel. A few minutes before, the price of Brent jumped 40% to $ 35.99.

Earlier on April 2, Trump said that he had talked about oil prices with the prince, who, in turn, had previously discussed the issue with Russian President Vladimir Putin. According to the American leader, both Russia and Saudi Arabia promised to significantly reduce production.

At the same time, the Kremlin denied that Putin had such a conversation.

Oil prices fell on March 9, after Russia and the countries participating in the OPEC + March 6 deal did not agree to reduce oil production. As a result, Saudi Arabia announced that it intends to increase production to 12 million barrels per day and bring reserves to the market.

As a result, prices fell a record 30%.


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