Oil prices rose more than 1% on Tuesday on hopes for a US-China trade agreement and optimism that Washington could roll back some tariffs on Chinese imports. <\/p>\n
Brent crude futures rose 74 cents, or 1.2%, to $62.87 a barrel by 12:56 pm EST (1756 GMT). US West Texas Intermediate (WTI) crude futures rose 68 cents, or 1.2%, to $57.22 a barrel. <\/p>\n
China is pushing US President Donald Trump to remove more tariffs imposed in September as part of a so-called Phase 1 deal, which would ease the economic impact of the trade dispute between the world’s two biggest oil consumers. <\/p>\n
“While such a development could accommodate a signing of a Phase 1 deal that would allow for a further increase in risk acceptance and hence, bullish spillover from the equities and into the oil complex, a major long term agreement still appears elusive well into next year,” Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois, said in a report.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose more than 1% on Tuesday on hopes for a US-China trade agreement and optimism that Washington could roll back some tariffs on Chinese imports. Brent crude futures rose 74 cents, or 1.2%, to $62.87 a barrel by 12:56 pm EST (1756 GMT). US West Texas Intermediate (WTI) crude futures rose 68 cents, or 1.2%, to $57.22 a barrel. China is pushing US President Donald Trump to remove more tariffs imposed in September as part of a so-called Phase 1 deal, which would ease the economic impact of the trade dispute between the world’s two biggest oil consumers. […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-299648","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=299648"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299648\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=299648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=299648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=299648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}