Oil rebounds to $62 on hopes for U.S.-China trade deal (reuters.com)

Oil rose above $62 a barrel on Thursday after China hinted at progress toward a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and fuel demand.

Beijing’s comments boosted market sentiment, which had also been ruffled by Wednesday’s U.S. government supply report showing crude inventories rose last week by 7.9 million barrels, much more than expected by analysts.
more at source: https://www.reuters.com/article/us-global-oil/oil-falls-after-three-day-rally-on-larger-than-expected-u-s-crude-build-idUSKBN1XG03Z

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