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Thursday, 13 December 2018 11:00

Oil prices rise as Sino-U.S. trade tensions easing

Oil prices rise as Sino-U.S. trade tensions easing

Oil prices rose on Thursday, buoyed by a drawdown in U.S. crude stockpiles and indications that China is taking concrete steps to put a trade war truce with Washington into action, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Crude oil prices have also been supported by OPEC-led supply curbs announced last week, although gains were capped after the producer group lowered its 2019 demand forecast.

International Brent crude oil futures were at $60.47 per barrel, up 32 cents, or 0.5 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $51.35 per barrel, up 20 cents or, 0.4 percent.

More details: https://www.reuters.com/article/us-global-oil/oil-prices-rise-as-sino-u-s-trade-tensions-show-signs-of-easing-idUSKBN1OC03H?il=0

Person in charge of the newsline: Olga Nagiyeva 

 

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