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

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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	166,677.70 295.62M	0.79% 1304.39
ALLSHR	100,309.12 590.21M	0.65% 649.40
KSE30	50,855.17 184.12M	0.72% 361.13
KMI30	239,315.92 162.68M	0.94% 2217.63
KMIALLSHR	65,437.31 338.54M	0.87% 565.13
BKTi	45,391.23 48.89M	0.60% 270.74
OGTi	32,857.06 26.79M	1.29% 418.64

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	91,500.00	93,590.00 90,590.00	1145.00 1.27%
BRENT CRUDE	62.32	63.39 62.12	-0.55 -0.87%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	-0.10 -0.12%
ROTTERDAM COAL MONTHLY	96.40	0.00 0.00	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	58.48	59.64 58.27	-0.17 -0.29%
SUGAR #11 WORLD	15.21	15.29 15.08	0.07 0.46%