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Oil prices soar after U.S., China suspend trade hostilities

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices shot higher on Monday after the United States and China agreed a 90-day truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut.U.S. West Texas Intermediate (WTI) crude futures were at $53.38 per barrel at 0220 GMT, up $2.45 per barrel, or 4.8 percent from their last close.International Brent crude oil futures were up $2.38 per barrel, or 4 percent, at $61.84 a barrel.China and the United States agreed during the meeting of the Group of 20 (G20) leading economies in ...

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First Published: Mon, December 03 2018. 08:23 IST