Trump Steps In To Help Oil Industry Facing Its Own Coronavirus Crisis
Oil prices bounced back a bit after President Trump said the Department of Energy would buy crude for the nation's strategic petroleum reserve.
"We're going to fill it right to the top," Trump said Friday in a wide-ranging news conference at the White House. He said it will save taxpayers "billions and billions of dollars" while helping an industry that's been reeling.
While oil prices increased nearly 5% after Friday's announcement, that was just a fraction of the amount they lost earlier in the week.