image credit: Pxhere

Oil pops 1.2% as U.S. and China agree to phase out some tariffs if deal done

November 7, 2019


Oil futures finished climbed on Thursday after China and the U.S. agreed to lift existing tariffs if a partial trade deal is struck soon, signaling that trade talks are progressing and providing an upbeat backdrop for crude demand.

West Texas Intermediate crude for December delivery CLZ19, +1.17% rose 67 cents, or 1.2%, to reach $57.02 a barrel on the New York Mercantile Exchange, recovering much of its 1.5% loss on Wednesday.

Read More on Market Watch