Oil was steady near a 12-week high in New York, supported by signs of falling American crude inventories yet were capped by continuing salvos in the U.S.-China trade dispute. WTI Crude is $58.88; Brent is $64.15 this morning.
Last week ended on a high with the bullish outcome of the OPEC meeting, so it may just be a correction lower from a strong starting point, but it looks like the market is a bit anxious with no U.S.-China trade deal in place yet, say analysts. WTI Crude is $58.60; Brent is $63.75 this morning.
Oil is set for a weekly gain as shrinking American crude stockpiles and signs of progress on a possible U.S.-China trade deal added to the bullish tone. WTI Crude is $58.12; Brent is $62.31 this morning.
Oil has been rising since early October on optimism the U.S. and China are close to an initial deal. The likelihood that OPEC and its allies will extend production cuts and toughen compliance, together with some signs that they could deepen them, has also helped to keep prices aloft this week. WTI Crude is $57.14; Brent is $62.10 this morning.
OPEC "+" led by Russia was moving closer to agreeing one of the deepest output cuts this decade to support crude prices and prevent an oversupply, sources from OPEC and its allied producers said in Vienna. WTI Crude is $58.61; Brent is $63.45.
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