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Gasoline and diesel are leading the oil recovery, as commuters are choosing to drive rather than use public transport.
Investors also cheered early evidence of a global economic recovery from the coronavirus pandemic as countries begin easing lockdowns.
When the coronavirus pandemic slammed gold's supply chain, prices in different locales sharply differed and drove major trading losses, HSBC said.
The oil rally creates "the BEST of all Worlds" as Americans can enjoy low gas prices while energy firms rebound, the president tweeted.
Investors are rushing into gold to maximize returns during the pandemic, but analysts urge investors to “take a breather”
Yung-Yu Ma, chief investment strategist at BMO Wealth Management, said gold prices took "investors on a wild ride"' during the great financial crisis.
Demand won't reach pre-outbreak levels until November 2021 due to the coronavirus' lasting impact on travel and spending, JPMorgan projected.
Oil prices are bouncing despite warnings that global energy demand in 2020 is set to slump 7 times more than during the financial crisis
The International Energy Agency said on Thursday: "Energy demand will fall 6% in 2020, seven times the decline after the 2008 financial crisis."
‘It’s amputation’: Shell cut its dividend for the first time since World War II, the latest sign of the brutal crisis decimating the...
Demand for oil has plummeted in recent weeks as the coronavirus pandemic halts air travel and shuts down manufacturing.
Saudi Arabia has accelerated production cuts initially planned for May, and US firms have slowed drilling operations to aid the struggling market.
‘This is crunch time’: Goldman Sachs analysts explained why oil plunged below $0, and warned it could happen again
"While it was a very technical, idiosyncratic event isolated to Cushing, Oklahoma, the press coverage of it really has created a sentiment shift."