Oil rebounds on Trump health update, Norway shutdowns
LONDON : Oil prices rose 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.
Brent was up 98 cents, or 2.5%, to $40.25 a barrel by 0849 GMT. U.S. West Texas Intermediate (WTI) crude was $1.09, or 2.9%, higher at $38.14 a barrel.
“This bout of strength is unlikely to have the legs to withstand the growing pile of unknowns. After all, the oil market is trapped in an unending cycle of uncertainty,” said Stephen Brennock of oil broker PVM.
