Energy

Oil markets: Coronavirus in focus

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An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.

Simon Dawson | Bloomberg | Getty Images

Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.

Brent crude was up by 38 cents, or 0.88%, at $43.32 a barrel. On Thursday, Brent closed down 1.9% but had recovered much of the ground lost from the lowest level since July 10.

U.S. crude gained 38 cents, or 0.95%, to $40.30 after dropping 3.3% the previous session, again recovering from lows not…



Source cnbc.com

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