Crude oil prices surge, as China plans to import large volumes of U.S. crude
China increased its order on energy and farm purchases ahead of a review of the Sino-U.S. trade deal.
China increased its order on energy and farm purchases ahead of a review of the Sino-U.S. trade deal.
Brent crude held most of it gains from the previous trading session.
Oil markets traded softer into the weekend on the back of escalating US-China tensions.
Brent crude futures rose slightly at 0.13% to trade at $45.23.
In recent weeks, oil demand has really suffered a setback.
Brent crude is expected to stay below the $45 resistance levels in the coming days.
Crude oil prices started the trading week at London's session with a decline, due to growing concerns on oil glut. ...
Despite the drop, Brent crude is still expected to experience its fourth monthly gain in July.
Brent crude gained about to trade at $44.32 a barrel by 3.49 am.
Brent crude futures gained 1.46% while West Texas Intermediate (WTI) rose 0.91% to trade at $41.81.
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