Oil prices bounce 7% after rout on stimulus hopes

Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.

President Donald Trump on Monday said he will be taking “major” steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak and will discuss a payroll tax cut with congressional Republicans on Tuesday.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn

More articles like this

Touchstone Exploration

Touchstone Exploration advances growth in Trinidad

Touchstone Exploration solidifies its position in Trinidad’s energy sector with the recent acquisition of the Rio Claro block through its subsidiary, Primera Oil and Gas. Exciting new opportunities await.

Touchstone Exploration

Touchstone expands exploration potential

Touchstone Exploration, through its subsidiary POGL, has secured an exploration and production licence for the Rio Claro block in Trinidad and Tobago. This agreement was finalised in collaboration with the Government of Trinidad and Tobago, the