'There is no reason to be bailing out Middle Eastern overproduction': Analysts break down how to prevent further oil price volatility

Business Insider via Google Maps

• US oil prices have recovered with West Texas Intermediate trading just above $17 barrel as of 09:15 EST on Friday.
• International prices recovered, however, following President Trump's comments that he ordered the US Navy to "shoot down" Iranian gunboats if they harassed American ships at sea.
• WTI prices have been highly volatile over the past week due to a lack of demand and storage space, particularly in Cushing, Oklahoma.
• Markets Insider spoke with analysts to ask how the US oil market can prevent further volatility.
• Track the price of oil live with Markets Insider.
• Visit Business Insider's homepage for more stories.

When oil markets suffer, a tweet by US President Donald Trump can make all the difference. 

Oil prices recovered this week from historical lows following a tweet by Trump on Wednesday instructing the US Navy to "shoot down any and all Iranian gunboats" if they harass US ships at sea. 

See the rest of the story at Business Insider

NOW WATCH: How waste is dealt with on the world's largest cruise ship

See Also:

• The SEC took action against 23 companies for making false claims about COVID-19
• A set of closely watched business surveys gave a terrifying glimpse into the scale of Europe's looming coronavirus recession
• Morgan Stanley reveals 17 energy-stock picks to buy now that the price of oil has collapsed — and which companies it says to avoid

from Feedburner https://ift.tt/3aGebm1