Oil prices rose yesterday, buoyed by output cuts by the Organisation of Petroleum Exporting Countries (OPEC) and reports that the United States and China are close to a deal to end a year-long tariff row.
International Brent futures were at $65.25 a barrel, up 18 cents, or 0.3 per cent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $55.94 per barrel, up 14 cents or 0.3 per cent.
Read also: NIMC begins Diaspora enrolment in South Africa
The U.S. and China appeared close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods.
Beijing has also pledged structural economic changes and elimination of retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday in Washington.
Leave a Reply