Oil extends gains as optimism over U.S. stimulus lifts global markets [Reuters]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
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Source: Reuters
Oil extends gains as optimism over U.S. stimulus lifts global markets SINGAPORE (Reuters) - Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic. U.S. crude CLc1 touched a high of $25.24 a barrel early in the session and was at $24.82 a barrel, up 81 cents, or 3.4%, by 0412 GMT. Brent crude LCOc1 was trading up 75 cents, or 2.8%, at $27.90 a barrel after rising to a high of $28.29. The U.S. Congress may vote on Wednesday on the $2 trillion stimulus after Republicans and Democrats said they were close to a deal, with optimism over the package fueling a surge in stock markets. Still, demand for oil products, especially jet fuel, is falling worldwide as more governments announce nationwide lockdowns to curb the spread of the coronavirus, putting a lid on oil price gains. “It will be difficult to lift demand if lockdowns are
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