Oil Prices Rise With Global Markets After China, US Put Trade War On Hold

Oil prices rose on Monday, lifted by news that China and the United States had put a looming trade war between the world’s two biggest economies “on hold”. Brent crude futures were at $78.87 per barrel at 0045 GMT, up 36 cents, or 0.5 percent, from their last close. Brent broke through $80 for the first time since November 2014 last week. U.S. West Texas Intermediate (WTI) crude futures were at $71.68 a barrel, up 40 cents, or 0.6 percent, from their last settlement.

The U.S. and China agreeing to no trade war will be positive for oil prices given that the possibility of a full-out trade war would have dealt a significant blow to global growth,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774