Oil prices edge up, supported by Iran ship attack, U.S.-China trade detente

Oil prices edge up, supported by Iran ship attack, U.S.-China trade detente
  • Clock-gray 06:10
  • calendar-gray 14 October 2019

Oil prices were little changed on Monday, holding onto 2% gains from Friday amid renewed geopolitical tensions in the Middle East, while a detente in the U.S.-China trade war buoyed market sentiment, APA reports quoting Reuters. 

Brent crude futures LCOc1 rose 9 cents to $60.60 a barrel by 1208 GMT, while U.S. West Texas Intermediate (WTI) crude futures CLc1 was at $54.79 a barrel, up 9 cents. 

Both contracts rose more than 3% last week, their first weekly gain in three weeks.

Kənan Hacıyev

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