Oil price rebound gathers pace as Trump stokes Iran tensions

FINANCIAL TIMES 🔒| The rebound in oil prices gained momentum following this week’s mammoth sell-off as the prospect of renewed tensions in the Middle East and optimism over supply cuts helped offset fears of a collapse in global demand due to coronavirus. Crude has been pummelled in recent days on concerns that there is not enough space around the world to store the growing oil glut. Prices for the US benchmark at one point turned negative for the first time in history, meaning producers were forced to pay buyers to take oil off their hands.


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