International oil price skyrocketing

International oil prices soared on May 5 as news of a gradual economic restart and a reduction in crude oil production spurred.

Light crude for June delivery on the New York Mercantile Exchange rose $4.17 to $24.56 a barrel, or 20.45 per cent, at the close. Brent crude for July delivery rose $3.77 to $30.97 a barrel, or 13.86 percent.

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