Oil Holds At 4-Month High Despite Jump In COVID-19 Cases

Oil Holds At 4-Month High Despite Jump In COVID-19 Cases

OilPrice.com

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Oil prices jumped to a four-month high on Tuesday, rallying on hopes of economic stimulus. However, the uncontrolled spread of the coronavirus in the U.S. puts something of a ceiling on prices for the time being. After several days of tough negotiations, the European Union agreed to a 750-billion-euro stimulus package, in a historic vote of confidence in the European project. For the first time, European countries will sell bonds collectively rather than on an individual basis, and funnel the proceeds to hard-hit countries, particularly in Southern…

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