Oil rises as renewed hopes of Washington and Beijing trade talks[/rtl]
[rtl]Date: 2019/11/25 10:36 • 48 times read[/rtl]
NEW YORK (Reuters) - Oil prices rose on Monday as positive talk from Washington raised hopes for global markets that the United States and China could soon sign a trade pact to end their bitter trade war.
West Texas Intermediate (WTI) crude was up 18 cents, or 0.31 percent, at $ 57.95 a barrel by 06:26 GMT, after ending last week on a slight change after tracing trade talks up and down.
Brent crude futures rose 27 cents, or 0.43 percent, to 63.66 dollars a barrel, after it also ended last week little changed.
The price rally at the open on Monday followed a statement by US National Security Adviser Robert O'Brien on Saturday that a preliminary trade deal with China could still be reached by the end of the year.
The previous day, US President Donald Trump and Chinese President Xi Jinping expressed the desire to sign an initial trade agreement and defuse the 16-month war that has resulted in a decline in global growth, although Trump has said he has not yet decided whether he wants to complete. An agreement, while Xi said he would not fear retaliation if necessary