Oil Prices Edge Up On Hopes For U.S.-China Trade Breakthrough

www.oann.com | 2/2/2015 | Staff
jollyjetta (Posted by) Level 3
SYDNEY (Reuters) – Oil prices inched up on Thursday, buoyed by hopes that potential progress in the latest Sino-U.S. tariff talks would improve the global economic outlook.

U.S. 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 Feb. 5 at $54.60 a barrel.

International - Brent - Crude - Oil - Futures

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

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

Truce - Trade - December - March - Progress

“The 90-day truce (on trade) agreed in December will run out on March 1, but given the progress of the talks...
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