High oil prices thanks to stimulus hopes and trade
10:57 - 20/08/2019
Information / Baghdad ..
Oil prices rose on Tuesday on optimism over easing trade tensions between the United States and China and hopes that major economies will adopt stimulus measures to stave off a possible economic slowdown that could hurt oil demand.
Brent crude rose 8 cents to $ 59.82 a barrel after gaining 1.88% on Monday, and US crude rose 9 cents to 56.30 dollars a barrel after rising 2.44% in the previous session.
Crude prices supported the bullishness of equities around the world with growing expectations that global economies will move to counter slowing growth.
A Reuters poll of seven analysts found crude oil inventories in the United States expected to fall by 1.9 million barrels in the week ending Aug. 19.