US stocks rose Thursday after jobless claims soared to 6.6 million, marking a second straight weekly record as coronavirus spurs layoffs.
, the US oil standard, jumped about 8%, bringing its price back to around $22 a barrel. The rebound follows weeks of heavy selling and fear of major pressure on the already-struggling energy sector.
he expects an oil-market truce between Saudi Arabia and RussiaThe two nations have repeatedly boosted oil production and lowered prices to claw market share in the critical market. The conflict pushed Brent crude to 18-year lows by the end of March and threatened additional economic turmoil beyond the coronavirus's effects.
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