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Oil prices spike as Trumps tweets Saudi Arabia and Russia agree deal.

Source: Matt Egan, cnn.com April 3, 2020

After Trump tweeted that he hopes and expects Saudi Arabia and Russia will slash output, US oil prices jumped to $27.39 a barrel.

New York (CNN Business)–Hopes are building for a truce in the brutal oil price war between Saudi Arabia and Russia, setting off a record spike in the oil market Thursday.

President Donald Trump suggested massive production cuts could be on the way and Saudi Arabia called for an “urgent” meeting between OPEC, Russia and other unnamed nations to restore “balance” to the oil market.

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