KONTAN.CO.ID - LONDON. Oil rose on Friday to its highest in nearly three months as progress in resolving the U.S.-China trade dispute and Britain's general election result appeared to lift two clouds that have been dampening investor appetite for risk. U.S. sources said on Thursday that Washington has set its terms for a trade deal with Beijing, offering to suspend some tariffs on goods and cut others in exchange for Chinese purchases of more American farm goods. Brent crude, the global benchmark, climbed to $64.95 a barrel, the highest since Sept. 23, and as of 1000 GMT was up 71 cents at $64.91. U.S. West Texas Intermediate crude gained 52 cents to $59.70.
Oil hits 3-month high as trade hopes, UK election lift sentiment
KONTAN.CO.ID - LONDON. Oil rose on Friday to its highest in nearly three months as progress in resolving the U.S.-China trade dispute and Britain's general election result appeared to lift two clouds that have been dampening investor appetite for risk. U.S. sources said on Thursday that Washington has set its terms for a trade deal with Beijing, offering to suspend some tariffs on goods and cut others in exchange for Chinese purchases of more American farm goods. Brent crude, the global benchmark, climbed to $64.95 a barrel, the highest since Sept. 23, and as of 1000 GMT was up 71 cents at $64.91. U.S. West Texas Intermediate crude gained 52 cents to $59.70.