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Oil mixed as Fed chief warns about coronavirus recovery
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US benchmark West Texas Intermediate rose 0.3 percent to $25.37 a barrel Oil prices were mixed Thursday as traders weighed downbeat comments from the US Federal Reserve head about the coronavirus pandemic against a surprise drop in US crude reserves.
US benchmark West Texas Intermediate rose 0.3 percent to $25.37 a barrel, while international marker Brent fell 0.6 percent to $29.02 a barrel.
Oil markets had a brutal April as economic activity ground to a halt worldwide because of lockdowns imposed to fight the virus, with WTI falling below zero for the first time ever.
But they started rallying this month as major economies began to loosen curbs, raising hopes that the worst of the pandemic had passed.
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COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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