Oil rises, thanks to optimism in trade and attention on Middle East tensions[/rtl]
[rtl]Editing Date: 12/30/2019 10:41 • 33 times read[/rtl]
International: Al Furat News Oil prices rose to a three-month high on Monday, supported by optimism about an expected trade agreement between the United States and China, while traders closely watched the Middle East after US air strikes.
The markets showed limited initial reaction to the news of the US-led air attacks in Iraq and Syria against an Iranian-backed armed group, even after US officials warned of possible "additional measures".
By 05:29 GMT, U.S. West Texas Intermediate crude futures rose 5 cents to $ 61.77 a barrel. And American crude is about 36% high since the beginning of this year.
Brent crude futures recorded $ 68.36 a barrel, up 20 cents, or 0.3%. "The global benchmark rose about 27% in 2019,
" said Margaret Yang, market analyst at CMC Markets.
She added: "Oil prices have reached their highest levels since the attack in Saudi Arabia in mid-September, so traders are cautious about the potential for profits."
On Sunday, the Chinese Ministry of Commerce said it was in close contact with the United States on signing a long-awaited trade agreement.
Oil prices are also supported by a drop in US oil inventories, which fell 5.5 million barrels in the week ending December 20, far exceeding expectations in a Reuters poll of 1.7 million barrels. is over
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