Oil up 1% at highest since September on trade pact and crude supplies - Reuters

Oil up 1% at highest since September on trade pact and crude supplies - Reuters:

Oil prices were up about 1% to the highest in more than three months on Thursday, boosted by hopes that the China-U.S. trade fight would soon come to an end and by a report showing lower U.S. crude inventories.

Brent crude futures LCOc1 settled at $67.92 a barrel, rising 72 cents, or 1.07%. U.S. West Texas Intermediate crude futures CLc1 settled at $61.68 a barrel, up 57 cents, or 0.93%Both benchmarks were their strongest since Sept. 17.

China on Wednesday said it was in close touch with the United States on a trade deal signing ceremony, after U.S. President Donald Trump said a day earlier that he and Chinese President Xi Jinping will hold a ceremony to sign the Phase 1 trade deal.

The prospect of a sealed agreement propelled Wall Street to fresh highs, helping to support crude futures, which often follow equities.