Oil futures surged in aftermarket trading after US President Donald Trump said the US would purchase crude to fill its Strategic Petroleum Reserve. Front-month Brent and WTI, which had settled slightly higher on the day, climbed around 7% above their Friday settles in aftermarket trading after Trump announced that his administration would take advantage of low oil prices to fill the SPR. Part 1: Volatility in global markets creates havoc for upstream US oil, gas and LNG Part 2: Plunging oil prices, pandemic having dramatic downstream impact “Based on the price of oil I’ve also instructed the Secretary of Energy to purchase, at a very good price, large quantities of crude oil for storage in the US strategic reserve. We’re gonna fill it right up to the top,” Trump said at a White House […]