After the U.S., Russia agreed to talks on oil recovers from 18-year lows

Tuesday after U.S. oil recovered property. President Donald Trump and Russian President Vladimir Putin agreed on talks to balance energy markets, with benchmarks climbing off 18-year lows reached as the coronavirus outbreak slashed global demand for fuel.

Brent crude LCOc1 fell 43 cents, or 1.9 percent, to $23.19 a barrel by 0406 GMT, its lowest finish since November 2002 after finishing Monday at $22.76.U.S. crude Clc1 increased by $1.16, or 5.8 per cent, to $21.26 a barrel, after settling at $20.09, the lowest since February 2002, in the earlier session.

Oil markets faced a double whammy from the coronavirus outbreak, and a price war between Saudi Arabia and Russia after OPEC and other producers failed to agree early March on deeper cuts to support oil prices.

Trump and Putin agreed to have their top energy officials discuss stabilizing the oil markets during a phone call, the Kremlin said on Monday.