Crude oil prices rise as broader markets gain on hopes for more stimulus
TOKYO: Oil prices rose on Friday after world leaders promised a massive injection of funds to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.
After tumbling for the past four weeks, Brent crude was up 50 cents, or nearly 2 per cent, at $26.84 a barrel by 0116 GMT, and on track to end the week steady or only slightly lower.
US crude was up 60 cents, or 2.7 per cent, at $23.20, and is heading for a weekly gain of about 3 per cent.
