Oil prices climb to highest in three months on renewed U.S.-China trade deal hopes - Reuters

Oil prices climb to highest in three months on renewed U.S.-China trade deal hopes - Reuters:

Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.

Brent futures LCOc1 climbed 47 cents, or 0.7%, to $64.67 a barrel by 0730 GMT, its highest since Sept. 23.

West Texas Intermediate (WTI) crude CLc1 was up 34 cents, or 0.6%, to $59.52 a barrel, the highest since Sept. 16. 


“Risk appetite ran wild after Trump signaled the he made a deal with China and that will only be positive for global demand forecasts for crude,” said Edward Moya, senior market analyst at OANDA.