Oil prices were plummeting down for a long time. However, the prices are slowly recovering. It has risen by 20 percent. It shows that the market is stabilizing after the oil prices went negative for the first time ever in history. West Texas Intermediate has opted for $13.78 per barrel. After oil started trading for negative $40 a barrel. This happened due to the 30% slash in demand for oil and the storing of personal crude oil.
President Trump is pushing for the secretaries of the Treasury Department and the Department of Energy to find solutions to this problem. Many lawmakers are asking for the Coronavirus stimulus payments to be shifted to fund oil companies.