Energy
Oil rises amid optimism over US-China trade talks
Oil prices rose today as investors awaited news from US-China trade talks in hopes that a deal could boost the global economic outlook and subsequently fuel demand.
Brent crude futures rose 12 cents to $67.16 a barrel. US West Texas Intermediate crude rose 13 cents to $65.42. The contract reached $65.38 a barrel during the session, the highest since 4th April. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a US-China trade deal.
US-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth curbs, risking global supply chain disruptions and slower growth.
A trade deal between the US and China could support the global economic outlook and boost demand for commodities including oil.
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