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Oil posts 5th positive session in 6, fueled by US inventories and trade progress


Friday, 20 December 2019 02:48 WIB

Minyak WTIMinyak MentahMinyak Brent


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Oil prices hovered near the highest in three months in thin pre-Christmas trading on Thursday, buoyed by the previous day's news that U.S. crude inventories declined and as U.S.-China trade tensions continued to ease.

Brent crude gained 37 cents to trade at $66.54 per barrel, for its sixth straight day of gains. U.S. West Texas Intermediate crude gained 29 cents, or 0.48%, to settle at $61.22 per barrel.

Trading volume was thin, with oil headed for a third consecutive weekly rise. Prices were buoyed by China's Dec. 13 decision to cancel a plan to impose additional tariffs on U.S. imports on Dec. 15 and the Phase 1 deal between Washington and China, which has eased trade tensions.

Source : Reuters


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