Oil Prices Stabilize on Short-Covering and an OPEC+ Output Decline ...Middle East

Crude oil prices stabilized today, following Monday’s dip, and even made some gains earlier in the day, as traders rushed to cover their short positions on the commodity, and production figures from OPEC+ showed a decline for March, to the tune of 360,000 barrels daily. At the time of writing, Brent crude was trading at $66.59 per barrel, with West Texas Intermediate at $63.73, both up from Monday’s close. Meanwhile, President Trump has gone on the offensive against Federal Reserve chair Jerome Powell, insisting that the central bank…

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