Oil prices rally on the back of US-China talks and supply cuts from major producers

MG News | January 07, 2019 at 10:41 AM GMT+05:00

0:00

January 7, 2019 (MLN): Oil prices inched up by more than 1 percent on Monday, primarily by virtue of optimism resulting from talks between the United States and China to resolve the trade war, while supply cuts by major producers also backed the market.

Brent crude futures were at $57.75 per barrel at 0404 GMT, up 69 cents, or 1.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude oil futures were at $48.67 per barrel, up 71 cents, or 1.5 percent.

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Name	Price/Vol	%Chg/NChg
KSE100	185,057.83 215.80M	0.48% 883.35
ALLSHR	111,198.99 737.64M	0.43% 473.52
KSE30	56,808.99 106.85M	0.61% 346.11
KMI30	262,806.58 83.35M	0.67% 1756.35
KMIALLSHR	71,591.94 246.19M	0.51% 360.96
BKTi	53,634.85 44.18M	0.76% 405.81
OGTi	38,885.41 12.11M	0.76% 294.99

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,285.00	79,285.00 78,635.00	1080.00 1.38%
BRENT CRUDE	66.31	68.83 65.45	-3.01 -4.34%
RICHARDS BAY COAL MONTHLY	90.00	0.00 0.00	-4.75 -5.01%
ROTTERDAM COAL MONTHLY	102.50	102.50 100.25	-0.90 -0.87%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	61.98	62.29 61.79	-0.16 -0.26%
SUGAR #11 WORLD	14.26	14.35 14.13	-0.01 -0.07%