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Oil rises amid expectations of resolving trade disputes between China and America
Squandered [size=13]oil losses he suffered earlier in the day, Friday, and rose with increasing hopes for the prospects to replace the [url=https://www.thebaghdadpost.com/ar/Story/t/616/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9]United States[/url] and China trade disputes between them, which eased worries of an economic slowdown leads to pressure on the demand for fuel.
The futures contract for the nearest Brent crude hit $ 73.04 a barrel by 0520 GMT on Friday, up 15 cents, or 0.2 percent, from the previous settlement.
WTI futures rose 7 cents, or 0.1 percent, to $ 63.76 a barrel. Oil surged to Asian equity markets after a telephone conversation between the Chinese and US presidents, raising hopes that a trade dispute between the world's two largest economies could be resolved
, dealers said .
Prices rose today after falling earlier in the session, but Brent is still down 12% since the beginning of October, while WTI is down 13%.
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