Crude oil price rises by 6% to $41

Oil dips by $4 in 2 days as output cut standoff lingers

The international oil benchmark, Brent crude, surged by six per cent on Monday after doctors said the United States President Donald Trump could soon be discharged from the hospital where he was being treated for COVID-19. The upturn in oil prices comes as six Norwegian offshore oil and gas fields were shut as more workers joined a strike, according to Reuters. Brent, against which Nigerian oil is priced, rose by $2.12 to $41.39 per barrel as of 8:05pm Nigerian time on Monday. “A lot of people thought last week’s selloff…

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