Media ININ Economy We Trust
Media In / Agencies 01-02-2019
LONDON (Reuters) – Oil prices rose on Friday amid hopes that the United States and China could settle their trade disputes soon, although data from China boosted fears of an economic slowdown that could dampen demand for fuel.
Brent crude futures were $ 61.06 a barrel up 22 cents, or 0.4 percent above the previous close.
US West Texas Intermediate crude futures were $ 53.86 a barrel, up 7 cents from the previous settlement.
Oil prices received support after US President Donald Trump said Thursday he would meet his Chinese counterpart Xi Jinping in a bid to hammer out a comprehensive trade deal.
But crude markets were under pressure from a survey conducted on Friday, showing that Chinese factory activity contracted at its fastest pace in nearly three years in January as orders fell, boosting fears of a slowdown in the world’s second-largest economy.
