Oil Markets Firm On Hopes That U.S. Trade Spat With China May Ease

Oil markets added to strong gains from the previous session on Tuesday on hopes that a trade dispute between the United States and China could be resolved without greater damage to the global economy. Yet prices remain within recent ranges as oil markets still face an abundance of supplies that puts pressure on producers to keep their prices competitive in order not to lose market share.
Brent crude futures were at $69.02 per barrel at 0225 GMT, up 37 cents, or 0.5 percent, from their last close. U.S. WTI crude futures were at $63.84 a barrel, up 42 cents, or 0.7 percent, from their previous settlement.
This followed a more than 2 percent rally on Monday during European and American trade hours, a rebound from a 2 percent price fall on Friday. Concerns of a prolonged trade dispute between the world’s two biggest economies and uncertainty over the supply and demand balance of global oil markets have resulted in volatile trading. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774