Oil rises as U.S. says trade war with China is 'on hold' | Reuters

Oil rises as U.S. says trade war with China is 'on hold' | Reuters:

"Oil rose on Monday, lifted by a rally across stocks and other commodities, after the United States said it had put a possible trade war with China “on hold”.

Brent crude futures were up 35 cents at $78.86 a barrel at 0845 GMT, having hit a high above $80 last week, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents to $71.57 a barrel.

A possible U.S. trade war with China is “on hold” after the world’s largest economies agreed to drop their tariff threats while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday, giving global markets a lift in early trading on Monday."



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