OIL at new three-month high above $60 a Barrel
INTERNATIONAL – Oil rose to a fresh three-month high above $60 (R866) a barrel on optimism the partial US-China trade pact will bolster demand, while analysts estimated a pull-back in US crude stockpiles.
Futures gained 0.5percent in New York after rising 2.5percent over the previous three sessions.
A limited trade agreement, to be signed and released early next month, will see some tariffs reduced and prevent an escalation in the conflict between the world’s two largest economies.
Source: iol.co.za
