The future crude oil contracts prospered on Thursday, bouncing from 20-year lows, with WTI oil prices recording a 23.8% increase in the largest single-day on record, MarketWatch reported. Investors acquire information about many support measures of the Central Bank and the Government to cope with the economic recession due to the impact of the COVID-19 pandemic, Russia expressed that they want to see oil prices are higher, and the Trump Administration vowed to intervene in the oil price war between Russia and Saudi Arabia. “Steep climb in oil prices on Thursday is a symbol of volatility that will continue to rock global markets, rather than a clear sign that oil prices were ready to sustainably recover from the recent bottom, ”said Robbie Fraser, senior commodity analyst at Schneider Electric. Closing the session on Thursday, WTI light sweet crude oil contract delivered in April on Nymex broke out 4.85 USD (equivalent to 23.8%) to 25.22 USD / barrel, marking a strong increase session. The record is based on data updated from March 1983, data from Dow Jones Market shows. The Brent oil contract delivered in May on London market climbed 3.59 USD (equivalent to 14.4%) to 28.47 USD / barrel. The Federal Reserve (Fed) at the end of Wednesday (March 18) announced many moves to stabilize the US financial market, which is shaking by the sudden disruption of economic activities due to the COVID-19 outbreak. Fed extended supports including money market mutual funds. And the European Central Bank (ECB) has launched a new expansion plan that up to 750 billion euros ($ 820 billion) of government bonds and the private sector as well as negotiable instruments by the end of the year. It was the day after stimulating efforts of Central Banks last week. The Central Bank of Australia has cut interest rates for the second time in March 2020. “Of course it’s a low price, we would like to see it higher,” Kremlin spokesman Dmitry Peskov said on a conference call on Wednesday (March 18) though he did not propose an agreement with the Organization of the Petroleum Exporting Countries (OPEC) and allies, led by Russia. The oil-producing countries failed to reach an agreement in early March 2020 to cut production further, and Russia and Saudi Arabia entered a price war that rocked financial markets and energy. U.S. President Donald Trump’s administration is considering intervening in the Russian-Saudi oil price war by pushing Saudi Arabia to cut oil production and threaten Russia with sanctions, The Wall Street Journal reported. Last weekend, President Donald Trump announced Friday that the U.S. will buy large quantities of oil to fill the country’s Strategic Petroleum Reserve. The SPR held a total of 635 million barrels of crude oil until March 13, in 2020 with current storage capacity is 713.5 million barrels. When oil prices prospered, the US stock market also recovered on Thursday. Dow Jones closed below the 20,000 point mark for the first time since 2017 on Wednesday (March 18), but it broke out of the session bottom after the US Congress agreed the first two measures to reduce the loss of economic because of the COVID-19 epidemic that is causing businesses and consumers. Also on Thursday session, gasoline contracts delivered in April that advanced 7.4% to 68.50 cents/gallon. Heating oil contract delivered in April that soared 9.2% to $ 1,0417/gallon. Natural gas contracts also prospered on Thursday when the US Energy Information Administration (EIA) noted that supplies of natural gas fell 9 billion cubic feet in the week March 13, 2020, it is higher than the forecast of losing 8 billion cubic feet from analysts who participate in the Platts poll. Natural gas contract in April added 3.1% to 1,654 USD/MMBtu.