Brent crude climbs above $60 a barrel on tariff delay | Financial Times:
Oil prices jumped above $60 a barrel on Tuesday after the Trump administration said it would delay the imposition of a set of tariffs against China until December, easing trade tensions.
The price of Brent crude, the international oil benchmark, rose $2.37 a barrel to $60.80. West Texas Intermediate, the US marker, increased $1.93 a barrel to $56.89, as concerns about weakening oil demand fell.
Oil prices slumped by as much as 5 per cent last week in response to a fresh round of tariffs announced by President Donald Trump in an escalation of the trade war.
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