Oil prices edge up on hopes for US-China trade breakthrough


Oil prices edge up on hopes for US-China trade breakthrough

Oil prices inched up on Thursday, buoyed by hopes that potential progress in the latest Sino-US tariff talks would improve the global economic outlook.

US West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since February 5 at $54.60 a barrel.

International Brent crude oil futures had yet to trade. They closed the previous session up 1.9 percent, after marking their strongest since November 21 at $63.98 a barrel.

Optimism that a trade deal could be reached between the United States and China was boosted when US President Donald Trump said talks were going “very well”. Read More

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