Oil prices rise on US-China trade deal hopes
Opec+, which is meeting in December, expects to make deeper production cuts to offset US fracking output
05 November 2019 - 13:09
London/Tokyo — 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 66c, or 1%, at $62.79 a barrel at 10.16am GMT. US crude rose 48c, or 0.8%, to $57.02 a barrel. Oil has been supported by hopes for a trade deal between the US and China, the two biggest oil consumers, that could boost demand...
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