US President Donald Trump has ordered his secretaries of Energy and the Treasury to devise a financial rescue plan for the American oil and gas industry, as oil prices continue their historic nosedive. Trump gave the order on Tuesday to “make funds available” to the flailing industry, a day after the price of US benchmark oil futures contracts sank below zero – an unprecedented drop triggered by rock-bottom demand and excessive supply. The price of Brent crude has also fallen to two-decade lows, dipping below $20 per barrel as of Tuesday. The president is likely trying to prevent a further decline as the collapsing oil market appears t
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