OIL PRICE
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ENERGY
US releasing 53mn barrels from strategic oil reserve to mitigate fallout from war on Iran
The US is releasing 53.3 million barrels of crude oil from its Strategic Petroleum Reserve in an attempt to stabilize global markets affected by Iran war.
ON THE NEWS LINE
US drive to cap Russian oil price
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SAUDI ARABIA
Saudis started oil price war after MBS-Putin shouting match: Report
Saudi crown prince threatened Russian president over production cuts prior to flooding market in a telephone call, the Middle East Eye reports.
ECONOMY
Wall Street drops as oil traders cannot give away US crude
Wall Street tumbled on Monday after US crude futures turned negative for the first time ever, with traders forced to pay to unload crude as the May contract expired during a global economic slump unleashed by the coronavirus outbreak.
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