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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Oil rises on hopes of resolving US-China trade dispute

rocky
rocky
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Posts : 230340
Join date : 2012-12-21

Oil rises on hopes of resolving US-China trade dispute Empty Oil rises on hopes of resolving US-China trade dispute

Post by rocky Thu 10 Jan 2019, 1:42 am

Oil rises on hopes of resolving US-China trade dispute


Oil rises on hopes of resolving US-China trade dispute 12269


Oil prices jumped almost 5 percent to their highest level in nearly a month on hopes of easing tensions between the world's two largest economies, while the market received support from OPEC-led production cuts. 
US West Texas Intermediate crude futures rose $ 2.58 to settle at $ 52.36 a barrel, up 5.18 percent. This is the first time crude has exceeded $ 50 a barrel.
Brent crude futures rose 2.72 dollars, or 4.63 percent, to settle at $ 61.44 a barrel.
The huge gain has boosted futures to a 14 percent rise this year.
Trade talks in Beijing between the United States and China ended and negotiators focused on Beijing's pledge to buy "large quantities" of agricultural, manufactured and energy goods from the United States, the US Trade Representative's Office said.
Oil prices have been supported by production cuts by a group of OPEC crude producers as well as by non-OPEC members.
The OPEC-led cuts aim to rein in an emerging supply gap, partly due to a rise in US crude oil production to a record 11.7 million bpd.


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