Oil gains as governments pile on the economic stimulus - Reuters

Oil gains as governments pile on the economic stimulus - Reuters:

Oil prices rose on Friday as the world’s richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia. 

Brent crude futures LCOc1 were up $2.12, or 7.4%, at $30.59 a barrel by 1012 GMT.

U.S. crude futures for April CLc1 rose $2.23 to $27.45. The front-month contract expires later on Friday. The more active U.S. crude contract for May CLc2 was up $2.29, or 8.8%, at $28.20.

Both U.S. contracts gained more than Brent because of U.S. plans to buy up to 30 million barrels of crude for its emergency stockpile by the end of June and reports that regulators in Texas might curtail output.