Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.
Benchmark Brent crude gained $1.03, or 1.7%, to settle at $63.31 a barrel, while West Texas Intermediate crude rose 95 cents, or 1.7%, to settle at $57.72 a barrel. Brent and WTI both posted their second straight weekly gain.
U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network on Friday that there was a very high probability the United States would reach a final agreement on a phase one trade deal with China.
Source : Reuters
Oil prices on Monday held near three-month highs, supported by last week™s announcement that an initial trade deal had been reached between the United States and China. Brent crude oil futures rose 17 cents or 0.3% to $65.39 a barrel by 0940 GMT, while West Texas Intermediate crude was up 10 cent...
Oil retreated from a three-month high as optimism the U.S. and China™s trade deal will spur demand gave way to caution due to the agreement™s limited nature and lack of detail. Futures fell as much as 0.6% in New York after closing up 1.5% Friday. The dealinvolves China buying more America...
Oil futures settled higher on Friday, with U.S. prices above $60 a barrel for the first time since mid-September. Traders digested news of a preliminary phase one U.S.-China trade deal that helped ease worries about the outlook for energy demand. The question of whether U.S. benchmark crude-oil fut...
Oil rose near the highest level in almost three months after U.S. President Donald Trump signed off on a partial trade deal with China, giving a boost to the fragile outlook for global oil demand. Futures climbed 1.1% to almost $60 a barrel in New York, and are on track for a slight weekly increase...
Oil prices advanced on Friday in Asia as U.S. President reportedly agreed to a partial deal with China to pause the trade war. U.S. Crude Oil WTI Futures rose 0.5% to $59.48 by 12:01 AM ET (04:01 GMT), while International Brent Oil Futures gained 0.6% to $64.61. Washington has agreed to not impose...