Oil gains on optimism over U.S.-China trade deal - Reuters

Oil gains on optimism over U.S.-China trade deal - Reuters:

Oil prices rose on Tuesday on positive economic data and hopes for a Washington-Beijing trade deal that will lead to a de-escalation in tensions between the world’s top economies.

Brent crude LCOc1 was up 66 cents, or 1%, at $62.79 a barrel at 1016 GMT.

U.S. crude CLc1 rose 48 cents, or 0.8%, to $57.02 a barrel.

Oil has been supported by hopes for a trade deal between the United States and China, the two biggest oil consumers, that could boost demand.

China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a “phase one” U.S.-China trade deal.