Oil rockets over 30% as Trump signals end to price war

Brent North Sea crude soared as high as $36.29 per barrel before pairing gains to stand up almost 25 percent at $30.82.

Oil futures rocketed over 30 percent Thursday after US President Donald Trump tweeted that he expected Russia and Saudi Arabia to end a price war by slashing crude output.

Oil storage tanks in Tuapse, Russia (Bloomberg)

Brent North Sea crude soared as high as $36.29 per barrel before pairing gains to stand up almost 25 percent at $30.82. WTI surged to $27.39 per barrel and shortly after was 25.4 percent higher at $25.47.