Oil futures Tuesday headed higher, poised for their seventh straight gain amid efforts to curb output and measured optimism around U.S.-China trade talks, which were seen as making progress.
A resolution has widely been viewed as potentially supportive to crude prices because tariff spats have helped to hamstring expansion in the world’s second-largest economy China, also one of the biggest importers of crude.
Trade tensions pose the threat of hurting demand for oil, dragging prices, which have already been battered in recent months, further down. Both WTI and Brent oil are in a bear market, usually defined as a drop of at least 20% from a recent peak.
more at source: https://www.marketwatch.com/story/oil-on-the-verge-of-logging-longest-streak-of-gains-in-about-18-months-2019-01-08