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Oil rises on the hopes of stockpile purchases
April 15, 2020
Source: Reuters

Oil rises on the hopes of stockpile purchases

Oil prices went up on Wednesday after undergoing a decline in the last session. The investors expect that the consuming countries will fill their strategic reserves and this led to the price rise. Brent increased by 1.3%, to $29.98 a barrel. WTI rose by 1.8%, to $20.47 a barrel. US Energy Department is already in talks with 9 companies to store 23 million barrels of domestic oil in its SPR.

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