Futures contracts tied to the major U.S. stock indexes ticked lower at the start of the overnight session Wednesday evening.
Violent fluctuations in the price of oil have kept markets on edge this week as a slide in demand the result of the coronavirus and persistent oversupply keep pressure on crude.is down more than 70% from highs north of $60 per barrel earlier this year, its bounce on Wednesday pacified investors who worried that the futures contracts could fall back into negative territory like they did on Monday.
The contract for June delivery settled up 19% at $13.78 per barrel on Wednesday after President Donald Trump tweeted that he'd "instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea."
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