Oil prices set for biggest yearly rise since 2016 - Reuters:
Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.
Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT. U.S. West Texas Intermediate (WTI) crude rose 6 cents at $61.74 per barrel.
The volume of trade remained low as many market participants were away for year-end holidays.
Brent has gained about 24% in 2019 and WTI has risen 35%. Both benchmarks are set for their biggest yearly gains in three years, backed by a breakthrough in U.S.-China trade talks and output cuts pledged by the Organization of the Petroleum Exporting Countries and its allies.
Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.
Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT. U.S. West Texas Intermediate (WTI) crude rose 6 cents at $61.74 per barrel.
The volume of trade remained low as many market participants were away for year-end holidays.
Brent has gained about 24% in 2019 and WTI has risen 35%. Both benchmarks are set for their biggest yearly gains in three years, backed by a breakthrough in U.S.-China trade talks and output cuts pledged by the Organization of the Petroleum Exporting Countries and its allies.
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