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Oil Rises to Three-Month High After Trump Approves Trade Deal


Friday, 13 December 2019 08:39 WIB

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Oil rose to the highest level in almost three months after U.S. President Donald Trump signed off on a limited trade deal with China, improving the global demand outlook.

West Texas Intermediate for January delivery rose 32 cents, or 0.5%, to $59.50 a barrel on the New York Mercantile Exchange as of 9:28 a.m. in Singapore. The contract, which closed at the highest level since Sept. 17 on Thursday, is up 0.5% this week.

Brent for February settlement added 40 cents, or 0.6%, to $64.60 a barrel on the London-based ICE Futures Europe Exchange. It's up 0.3% for the week. The global benchmark crude traded at a $5.20 premium to WTI for the same month.

Source : Bloomberg


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