President Trump said today he has ordered his administration to rescue U.S. oil companies that have been battered by record low oil prices due to the pandemic
President Donald Trump said today he has ordered his administration to rescue U.S. oil companies that have been battered by record low oil prices because of the coronavirus pandemic.. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”Spokespeople for the White House, Treasury and DOE did not immediately reply to questions.
U.S. May crude oil futures sunk deep into negative territory on Monday for the first time in history ahead their expiration today. That contract rebounded into positive territory early today, but was still trading at only $1.30 per barrel. The more active June futures contract was down $5 at $15.37 per barrel.
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