Oil prices up
Oil prices rose above $64,50 a barrel yesterday, snapping four straight days of declines on easing Mideast tensions as the United States and China, the world’s top energy consumers, prepared to sign a preliminary trade deal.
Brent crude gained 43 cents, or 0,67percent, at $64,63 per barrel by 1036 GMT.
US West Texas Intermediate crude futures rose 32 cents or 0,4 percent at $58,40 a barrel.
The outlook for oil demand was supported ahead of the signing at the White House today of a Phase 1 US-China trade deal, which marks a major step in ending a dispute that has cut global growth and dented demand for oil.
China has pledged to buy more than $50 billion in energy supplies from the United States over the next two years, according to a source briefed on a trade deal. — Reuters.
You Might Also Like
-
Business Reporter National trade development and promotion agency, ZimTrade, is organising an outward seller mission to Angola designed to enhance linkages between local exporters and leading buyers in that market. The Zimbabwe-Angola Trade Mission, scheduled for 14-16 May will feature a comprehensive programme designed to foster connections between the Angolan and Zimbabwean private sectors. This […]
Agriculture Journal
Comments