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Oil Prices Gain as Donald Trump Recovers from COVID-19

Oil prices went up Tuesday, supported by reports that US President Donald Trump was discharged from hospital following treatment for COVID-19.

The leader returned to the White House on Monday after a three-night hospital stay and said he felt “real good”.

Meantime, hopes for a fresh US stimulus renewed after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for about an hour and were preparing to talk again later today. Supporting prices further was the evacuation of oil platforms in the U.S. Gulf of Mexico ahead of Tropical Storm Delta as well as an expanding strike by workers in Norway, which shut six offshore oil and gas fields.

At around 05:45 AM GMT, WTI crude rose by 0.3% to $39.34 a barrel. Brent crude also gained 0.3% to $41.42 a barrel.

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About Babajide Iletogun

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