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Oil prices rise on US-China trade talk hopes, Opec supply cuts

Crude prices so far in 2019 have been buoyed by supply cuts from the Organization of the Petroleum Exporting Countries including top exporter Saudi Arabia, and allies including Russia

Us China Trade War  |  Crude Oil Price  |  Opec

Reuters  |  New York 

Oil prices rose gains on Tuesday, supported by hopes that demand may rise more quickly if talks between US and Chinese officials resolve the trade dispute between the world's two biggest economies. A possibility that OPEC-led supply cuts could be extended also supported prices. Brent crude futures were up 60 cents a barrel to $57.93 per barrel by 10:52 a.m. EST (1552 GMT). US West Texas Intermediate (WTI) crude oil futures climbed 63 cents to $49.15 per barrel. "The trade situation is definitely bullish; you have a good demand construction if we can wrap up this ...

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First Published: Tue, January 08 2019. 21:37 IST