Oil gains on optimism over US-China trade deal
Oil prices rose on Tuesday on positive economic data and hopes for a Washington-Beijing trade deal that will lead to a de-escalation in tensions between the world’s top economies.
Brent crude was up 66 cents, or 1 per cent, at $62.79 a barrel at 1016 GMT.
US crude rose 48 cents, or 0.8 per cent, to $57.02 a barrel.
Oil has been supported by hopes for a trade deal between the United States and China, the two biggest oil consumers, that could boost demand.
China is pushing US President Donald Trump to remove more tariffs imposed in September as part of a “phase one” US-China trade deal.
