LONDON: Crude resumed its surge Friday with Saudi-led OPEC set to hold a video conference with non-cartel members, notably Russia, that could stop a price war that along with crushed demand because of the coronavirus has plunged the market into chaos.
Global stock markets, meanwhile, mostly fell Friday on news that the total number of COVID-19 infections had hit one million worldwide, while investors fretted over gloomy eurozone services data and awaited key US non-farm payrolls figures.
In Friday trading, Brent North Sea oil leapt more than ten percent to $33.37 per barrel. West Texas Intermediate rallied more than five percent to $27.00.
On Thursday, Brent had hit an intra-day high of $36.29 per barrel, up almost 46 percent, and WTI soared around 35 percent to $27.39.
