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Oil surges nearly 3 percent as China calms trade war jitters

Reuters  |  NEW YORK 

By Ayenat MersieNEW YORK (Reuters) - Oil prices rose nearly 3 percent on Tuesday as investors grew more confident that a brewing trade dispute between the United States and China may be resolved without harming the global economy.Brent crude futures were up $2, or 2.9 percent, at $70.65 a barrel by 12:53 (1653 GMT). West Texas Intermediate crude futures also gained 2.9 percent, or $1.85, to $65.27 a barrel.President Xi Jinping on Tuesday promised to open China's economy further and lower import tariffs, striking a conciliatory tone on the trade tensions between his country and the United ...

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First Published: Tue, April 10 2018. 22:52 IST