Oil rises towards $65 as supply concerns outweigh trade disputes - Reuters:
Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.
OPEC and its allies agreed last week to extend their supply-cutting deal until March 2020. Brent has risen almost 20% in 2019 supported by the pact and also tensions in the Middle East, especially concerns about the row over Iran’s nuclear program.
Benchmark Brent crude rose 59 cents to $64.70 a barrel by 1033 GMT. U.S. West Texas Intermediate crude was up 46 cents to $58.12.
No comments:
Post a Comment