Oil Prices
Rise on Positive Trade Development, Falling Crude Stockpiles
Oil prices gained on
Thursday in Asia amid positive Sino-U.S. trade developments.Falling crude
stockpiles were also cited as tailwinds. Overnight, U.S. President
Donald Trump said in a tweet that he will be postponing the imposition of 5%
extra tariffs on Chinese goods by two weeks “as a gesture of good will.” The
decision came after China said earlier this week that it will exempt a range of
U.S. goods from 25% of extra tariffs.
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