‘Oil is back,’ tweets Trump. not so fast, says reality

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!!!!” 


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