02.04.2020 BRENT OIL Daily Analysis

02.04.2020 BRENT OIL Daily Analysis

BRENT OIL  27.14usd, +2.40,+9.70% Today Brent oil went high with almost  10% and it is trading on  27.14usd  this happened when Donald Trump announced that he recently had a meeting with the leaders of Russia and Saudi Arabia and that he will be having a meeting with the oil executives, where he will be discussing a range of options to help the industry after the demand was affected by the coronavirus outbreak and kept cars off the road no flights on air. The agenda of the meeting was to have a discussion in line with ending the war Prices between Russia and Saudi Arabia, cutting off oil production and supporting the oil prices. Russia and  Saudi Arabia are expected to end their price war in few days and the President of Russia Vladimir Putin said that both oil producers and consumers should find a solution that would improve the situation of global oil markets which he has put as challenging.