Oil prices up as US-China trade talks loom, supply issues mount | World News, The Indian Express

Oil prices up as US-China trade talks loom, supply issues mount | World News, The Indian Express

By Reuters |London |Published: October 7, 2019 3:21:06 pm

Oil prices up as US-China trade talks loom, supply issues mount

Brent crude rose 34 cents or 0.6% to $58.71 a barrel by 0840 GMT, while U.S. West Texas Intermediate (WTI) crude was at $53.16, up 35 cents or 0.7%.

Both futures contracts ended last week with a more than 5% decline after dismal manufacturing data from the United States and China (REUTERS/Lee Celano/File Photo)

Oil prices were up on Monday, buoyed by hopes of progress in U.S.-China trade talks and supported by challenges to supply facing major exporters.