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US oil prices rise above $50 on trade talk hopes

Updated : January 09, 2019 08:10 AM IST

US West Texas Intermediate (WTI) crude oil futures were at $50.14 per barrel as at 0021, up 36 cents, or 0.7 percent from their last settlement.
The world's two biggest economies will continue trade talks in Beijing for an unscheduled third day on Wednesday, US officials said, amid signs of progress on issues including purchases of US farm and energy commodities and increased US access to China's markets.
If no deal is reached by March 2, Trump has said he will proceed with raising tariffs to 25 percent from 10 percent on $200 billion worth of Chinese imports at a time when China's economy is slowing significantly.
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