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Oil rises, set for weekly gain amid hopes for end to U.S.-China trade war


Friday, 6 September 2019 13:12 WIB

BrentMinyak WTI


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Oil prices edged higher on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in U.S. crude inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month.

Brent crude was up 17 cents, or 0.3%, at $61.12 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude was up 16 cents, or 0.3%, at $56.46 a barrel.

Brent is set to mark its fourth weekly gain, while U.S. crude is headed for a second weekly rise.

Beijing and Washington on Thursday agreed to hold high-level talks in early October in Washington, cheering investors hoping for an end to the trade war between the world's two biggest economies that has brought tit-for-tat tariff hikes, chipping away at economic growth.

Source: Reuters


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