Oil prices rose by almost 4% due to truce in the trade war between the US and China


The announcement of a 90-day armistice agreement between the US and China in a trade war between the two countries pushed oil prices up. The negotiations scheduled for this period are expected to help settle trade disputes. On Monday, at 5:39 pm Moscow time, Brent crude rose by 3.7% to 61 dollars 66 cents a barrel. The price of WTI crude oil rose by 3.91% and amounted to 52 dollars 92 cents per barrel. The growth of prices was also promoted by the intention of the Canadian province of Alberta to reduce the surplus of raw materials in storage, for which manufacturers are obliged to reduce oil production by 8.7%. The market also expects OPEC member countries to agree to lower production at the summit to be held this week.

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