Oil gains 1% as China pushes Trump for more tariff roll-backs - Reuters

Oil gains 1% as China pushes Trump for more tariff roll-backs - Reuters:

Oil prices rose more than 1% on Tuesday on hopes for a U.S.-China trade agreement and optimism that Washington could roll back some of the tariffs it has imposed on Chinese imports.

Brent crude LCOc1 futures for January delivery rose 88 cents, or 1.4%, to $63.01 a barrel by 10:51 a.m. EST (1551 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 76 cents, or 1.3%, to $57.30 a barrel.

China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a so-called Phase 1 deal, which would help to ease the broad economic impact of the trade dispute between the world’s two biggest oil consumers.