Oil soars in the wake of Trump’s tweets

Highly volatile since the beginning of the year, oil prices rebounded spectacularly on Thursday, April 2, after U.S. President Donald Trump announced, via tweet, the end of the price war between Russia and Saudi Arabia. Brent crude recovered nearly 50% while WTI soared by 35%, before falling back as doubts grew over the US president’s statements. In the end, however, the oil markets experienced the largest daily percentage increase in their history, with WTI taking 25% and Brent 21%.