Oil ends higher, as trade deal progress spurs energy demand hopes - Reuters

Oil ends higher, as trade deal progress spurs energy demand hopes - Reuters:

Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020.

The U.S. Senate approved a revamp of the U.S.-Mexico-Canada Free Trade Agreement a day after the signing of the Phase 1 trade deal between the United States and China.

Brent LCOc1 settled up 62 cents, or 1%, to $64.62 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 rose by 71 cents, or 1.2%, to $58.52 a barrel.

The deal that the Senate approved was a revamp of the 26-year-old North American Free Trade Agreement. A day earlier, U.S. and Chinese leaders signed the Phase 1 trade deal calling for the world’s largest importer to buy $50 billion more of U.S. oil, liquefied natural gas and other energy products over two years.