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Oil prices gain as market awaits signals on U.S.-China trade talks | The Guardian Nigeria News - Nigeria and World News

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“Positive commentary about a possible U.S. and China interim trade deal certainly helps, but the fundamentals are supportive.” PriceOfOil OilPrice Oil US China

Brent crude futures were up 31 cents, or 0.5 per cent, at 62.49 dollars a barrel by 0644 GMT, after dipping to as low as 61.90 dollars earlier in the day.

Trump said on Saturday that talks with China were moving along “very nicely” but the United States would only make a deal if it was the right one for Washington.Trump speaks to the Economic Club of New York later on Tuesday, and markets will be keen for any update on the talks. On the supply side, Goldman Sachs also cut its 2020 forecast for growth in U.S. oil production, which has surged in recent years.

 

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