Oil climbs on US-China trade optimism, Middle East tensions

SEOUL: Oil prices rose on the first trading day of 2020 as warming trade relations between the United States and China eased demand concerns, and rising tensions in the Middle East raised worries about supply.

Global benchmark Brent crude futures, were up 21 cents, or 0.3%, to 66.21 a barrel by 0130 GMT. US West Texas Intermediate (WTI) crude was up 21 cents, or 0.3%, at $61.27 per barrel.