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Oil prices rise on US-China trade deal hopes and improved outlook

On Friday, prices jumped by about $2 a barrel after U.S. officials said a deal could be signed this month.

oil prices rise | Donald Trump | US-China trade deal

Reuters  |  Houston 

Oil prices rose $1 a barrel on Monday, buoyed by an improved outlook for crude demand as better-than-expected U.S. jobs growth added to market hopes a preliminary U.S.-China trade deal would be reached this month. Brent crude futures for January rose $1.03, or 1.7% to $62.72 a barrel by 10:26 a.m. CST (1613 GMT). December U.S. crude futures was up $1.10 cents, or almost 2%, at $57.30 a barrel. Brent traded near its highest in more than a month as market optimism about progress in U.S.-China trade negotiations propelled U.S. stock indexes to record highs, helping to elevate ...

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First Published: Tue, November 05 2019. 02:11 IST