Oil prices rise on trade optimism

15 December, 2019 12:00 AM printer

NEW YORK: Oil prices rose on Friday as trade optimism lifted investors’ sentiment.

China and the United States have agreed on the text of a phase one economic and trade agreement based on the principle of equality and mutual respect, according to a statement issued by the Chinese side Friday, reports Xinhua.

The West Texas Intermediate for January delivery increased 0.89 U.S. dollar to settle at 60.07 dollars a barrel on the New York Mercantile Exchange.  Brent crude for February delivery added 1.02 dollars to close at 65.22 dollars a barrel on the London ICE Futures Exchange.