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Oil prices trimmed losses today, Monday, after US President Donald Trump signed an aid package for those affected by the Coronavirus and public spending totaling $ 2.3 trillion, but market sentiment was affected by persistent concerns about demand in the near term.
With the Asian markets closed, Brent crude futures were down 25 cents, equivalent to 0.5% to $ 51.04 a barrel, after falling as much as 1.5% to $ 50.53 a barrel earlier in the session.
US West Texas Intermediate crude futures fell 19 cents, or 0.4%, to $ 48.04 a barrel.
The US president’s move was welcomed because it would return unemployment benefits to millions of Americans and prevent the federal government from shutting down.
