Crude oil futures recorded a noticeable increase during Thursday’s trading until the last hours, and US crude futures rose about 14.22%, near the levels of $ 15.73 a barrel. Brent crude futures rose about 9.28% to the levels of $ 22.30 a barrel.
This is supported by stimulus measures, a state of optimism by global governments, and the expectations of US Treasury Secretary Stephen Mnuchin that oil prices will reach $ 30 a barrel by August.
Australian Prime Minister Scott Morrison also announced this morning that Australia is on the way to returning to a safe economy from the Coronavirus, coinciding with the flatness of the virus’s curve within the country. The state will open up again after the last closure. But he did not give details about the date of this decision yet.
The New Zealand Prime Minister confirmed the government’s readiness to discuss all incentive options available to support the economy against the Corona virus, noting that he would not exclude any incentive option that would contribute to achieving adequate support for the economy and individuals.