Oil prices rise on stimulus hopes, trade optimism - Reuters:
Crude oil prices edged up on Tuesday on optimism U.S.-China trade tensions will ease and on hopes major economies will take stimulus measures to ward off a potential economic slowdown that could hit oil demand.
Brent crude LCOc1 had risen 8 cents to $59.82 a barrel by 0652 GMT, after climbing 1.88% on Monday.
U.S. crude CLc1 was up 9 cents at $56.30 a barrel, after gaining 2.44% in the previous session.
The United States said it would extend a reprieve that permits China’s Huawei Technologies to buy components from U.S. companies, signaling a slight softening of the trade conflict between the world’s two largest economies.
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