Oil Jumped 40% at the High on Wednesday

23 April 2020

Research

Oil jumped 40% at the high on wednesday, recovering from early losses in a volatile overnight trading session that SAW International Benchmark Brent Crude Fall to its lowest level in more than 20 years. West Texas Intermediate for June Delivery Rose $ 2.21, or 19.1%, to settle at $ 13.78 per barrel. Earlier in the session, WTI, The U.S. benchmark, had traditionally as low as $ 10.26, before jumping more than 40% to hit a session high of $ 16.20. Brent Crude Settled $ 1.04, or 5.38%, Higher at $ 20.37, After Previously Breaking Below $ 16. (CNBC) The senate on Tuesday Passned A $ 484 billion package to Bolster Small Businesses and Hospitals Ravaged by the Coronavirus Pandemic and Expand Testing for Covid-19. After the unanimous senate vote, the bill heads to the house, which aims to approve it by thursday. The Measure Injects Another $ 310 Billion Into A Key Loan Program Designed to Keep Employees on Small Company Payrolls. The Bill Passned Tuesday Allocates $ 60 billion for small lenders as part of the small business aid program. IT PUTS Another $ 60 Billion Toward Small Business Administration Disaster Assistance Loans and Grant. (CNBC) Source: Danareksa Sekuritas Debt Researchimage: North Sea, Castleck Strand, Castleck, Northern Ireland Photo by K. Mitch Hodge On Unssplash