Oil is up as Donald Trump predicts trade deal with China
China’s soothing words settle global markets; oil has fallen about 20% from 2019 highs reached in April
27 August 2019 - 12:33
London — Oil prices rose on Tuesday after US President Donald Trump predicted a trade deal with China after positive comments by Beijing, calming nerves after a round of tit-for-tat tariff hikes had sent markets reeling.
Brent crude was up 32c, or 0.55%, at $59.02 a barrel by 8.50am GMT, after falling 1% in the previous session, dropping for a third day in a row. US West Texas Intermediate (WTI) crude futures were up 36c, or 0.67%, at $54 a barrel, having also dropped 1% on Monday for a fourth day of decline...
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