Oil prices firm on hopes for US, China trade deal
Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth.
International Brent crude oil futures were at $67.26 a barrel at 0005 GMT, up 14 cents, or 0.2 per cent, from their last close. They ended Friday little changed after touching their highest since November 16 at $67.73 a barrel. US West Texas Intermediate (WTI) crude futures were at $57.38 per barrel, up 11 cents, or 0.2 per cent, from their last settlement. WTI futures climbed 0.5 per cent on Friday, having marked their highest since Nov. 16 at $57.81 a barrel.
“Crude prices continue to be supported on optimism a trade deal will be reached in the coming days by the world’s two largest economies, said Edward Moya, senior market analyst, OANDA.
