Futures in New York rose above $23 a barrel on Friday and are up around 4% this week after losing more than half of their value since mid-February. (Bloomberg) -- Oil was buoyed by a wider risk rally driven by monetary and fiscal responses to the coronavirus to head for its first weekly gain in five, despite a continued deterioration in demand.
Futures in New York rose above $23 a barrel on Friday and are up around 4% this week after losing more than half of their value since mid-February.
Global stocks staged a partial recovery this week as central banks sought to cushion the blow from the virus, while the U.S.
Senate passed a $2 trillion rescue package for the world’s largest economy. Crude’s recovery looks fragile though, given the