Oil is stable as fears of a US-Iranian conflict recede and the focus shifts to the trade agreement
Economy News _ Baghdad
Oil prices stabilized as concerns about the conflict between the United States and Iran receded, while investor interest shifted to the scheduled signing of a preliminary trade agreement between the United States and China this week, which would boost economic growth and demand.
Brent crude, the global benchmark, rose to 64.9 dollars a barrel, while West Texas Intermediate crude increased five cents to 59 dollars a barrel compared to the previous session.
Oil prices rose to their highest levels in nearly 4 months after a US drone raid targeted an Iranian military commander, and Tehran responded by firing missiles at US bases in Iraq.
But prices fell again with the decline of Washington and Tehran, after they supervised the slide of direct conflict.