Oil prices make weekly gains
10:40 - 21/12/2019
The information / Baghdad ..
Oil prices retreated, but both benchmarks made gains for the third week in a row amid easing US-China trade tensions, which boosted corporate confidence and the outlook for global economic growth.
The price of the settlement in Brent crude futures was set at 66.14 dollars a barrel, down 40 cents, or 0.6 percent, but with weekly gains of about 1.4 percent. US West Texas Intermediate crude contracts closed at $ 60.44 a barrel, down 40 cents, or 1.21 percent, and gains of about 0.6 percent over the week.
Progress in settling the trade dispute between the world's two largest oil consumers has boosted expectations for higher energy demand next year.
"(Focus) is still focused on developments related to the US-China trade situation, and with enough positive news throughout the week," said John Kildov, from Again Capital in New York.
China announced a list of customs exemptions on six oil and chemical products from the United States, days after Washington and Beijing said that a preliminary trade agreement was to be signed in January. Ended / 25