FORBES | Crude oil prices surged along with the market today, up 3% to $33 per barrel for West Texas Intermediate crude, on hopes for flattening of the Covid-19 infection curve. Oil company stocks rallied, with Chesapeake CHK Energy up 16% to $12.50 per share and ExxonMobil XOM up 8%.
President Trump helped to spur the rally, tweeting this morning “OIL (ENERGY) IS BACK!!!!”
To read the full article, click here.