Oil up sharply as more trade deal progress spurs energy demand hopes - Reuters

Oil up sharply as more trade deal progress spurs energy demand hopes - Reuters:

Oil rose more than 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 U.S and China. 

Brent LCOc1 was up 95 cents, or 1.4%, to $64.95 a barrel by 11:37 a.m. EST (1637 GMT), and U.S. West Texas Intermediate (WTI) crude CLc1 rose by $1.02, or 1.8%, to $58.83 a barrel.

The U.S. Senate on Thursday approved 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 that calls 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.