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US stocks surged after Gilead reported positive remdesivir trial results, and the Fed signaled rates would stay near zero. WTI settled up 22% at $15.06 per barrel, its first gain in three sessions.
Oil's sharp rebound from depressed levels reflects improving demand expectations, which lifts energy-linked costs and biofuel economics. The rally is a routine market move driven by sentiment rather than a new supply event.
cnbc.comThomas Franck, Maggie Fitzgerald, Pippa StevensApr 29, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
