Friday, 10 May 2019

Oil gains as supply factors offset trade tensions - Reuters

Oil gains as supply factors offset trade tensions - Reuters:

Oil prices rose on Friday even as the start of U.S. President Donald Trump’s tariff hike on $200 billion of Chinese goods kept tensions high in the trade dispute between the world’s two biggest economies.

Brent crude oil was up 45 cents at $70.84 a barrel by 0917 GMT, having touched a peak of $71.23.

U.S. West Texas Intermediate (WTI) crude futures were up 43 cents at $62.13, having earlier hit $62.49.

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