Oil prices rose more than 2% on Monday, lifted by comments from doctors for US President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.
Trump’s health update eased political uncertainty in global markets, pushing Brent up to $40.11 a barrel by 0503 GMT, gaining 84 cents or 2.1%. US West Texas Intermediate (WTI) crude was at $37.96 a barrel, up 91 cents, or 2.5%.
Prices had slumped more than 4% on Friday amid uncertainty surrounding Trump’s health, adding to concern that rising coronavirus case numbers that could dampen global economic recovery.
