Oil prices rise as China agrees to more US energy purchases

TOKYO: Oil prices rose on Thursday, propelled higher by the long-anticipated signing of an initial trade deal between Washington and Beijing that sets the stage for a potentially huge increase in energy supplies from the United States to China.

Brent was 33 cents, or 0.5 per cent, higher at $64.33 a barrel by 0118 GMT, while US crude was up by 28 cents, or 0.5 per cent, at $58.09 a barrel.