Oil Heads for Biggest Weekly Rise Since July as Stockpiles Fall - Bloomberg

Oil Heads for Biggest Weekly Rise Since July as Stockpiles Fall - Bloomberg:

Oil headed for the biggest weekly advance since mid-July as American crude stockpiles shrank more than forecast, while plans to resume U.S.-China trade talks buoyed the economic outlook.

Futures were little changed in New York, bringing their gain for the week to 2.1%. American inventories slid by 4.8 million barrels last week, according to government data Thursday, more than double the draw expected by analysts surveyed by Bloomberg. China and the U.S. said they would proceed with face-to-face negotiations next month, giving investors some hope of a resolution to their dispute even though there’s skepticism on both sides that progress can be made.