Economic news

Oil goes higher, with U.S-China trade talks on agenda of G20 meeting

Prices of oil rode up today due to hopes of a trade deal at the G20 gathering scheduled for the week-end, which could prop up the world economy and spur demand, however the data showing the biggest levels in U.S. oil inventories per year bridled growth.

 Photo: Reuters

Brent put on 6 cents or 0.1%, reaching $58.82 per barrel, after yesterday’s slump to $58.76, 2.4% down.

U.S. WTI futures were 20 cents or 0.4% higher compared to last close, coming up to $50.49 for a barrel, while yesterday’s intra-day bottom was the least reading in more than a year.

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