Oil prices had a volatile day, to say the least, jumping at the end of the day to close higher. Prices alternated between gains and losses all throughout the morning, with prices down 6% at one point. The rapid decline in prices has wreaked havoc in other areas of the financial markets, as investors have been forced to sell other assets such as Treasuries or equities indiscriminately to cover losses in their energy positions. Traders are attempting to quantify what increasingly strict travel restrictions and stay-at-home mandates will mean for longer-term crude demand, causing prices to swing in either direction. One thing is for sure, the impact on transportation fuels in Europe and the U.S. is just beginning. Traders are also eyeing a stimulus bill from Washington, which could provide a boost to oil prices. WTI traded up $.73 or 3.22% to close at $23.36. Brent traded up $.05 or .19% to close at $27.03.<\/p>\n\n\n\n
Oil prices had a volatile day to say the least, jumping at the end of the day to close higher. Prices alternated between gains and losses all throughout the morning, with prices down 6% at one point. <\/p>\n","protected":false},"author":2,"featured_media":297,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n