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	161,935.19 239.78M	0.80% 1277.69
ALLSHR	97,989.64 672.11M	0.80% 780.92
KSE30	49,083.13 162.29M	0.73% 357.18
KMI30	231,590.57 121.07M	0.80% 1835.48
KMIALLSHR	63,730.38 301.36M	0.65% 414.39
BKTi	44,511.26 43.79M	1.00% 442.70
OGTi	31,229.10 21.20M	1.42% 438.44

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	96,130.00	100,495.00 94,580.00	-1995.00 -2.03%
BRENT CRUDE	64.46	64.87 63.36	1.45 2.30%
RICHARDS BAY COAL MONTHLY	85.00	85.00 85.00	0.05 0.06%
ROTTERDAM COAL MONTHLY	96.45	96.45 95.75	1.20 1.26%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.23	60.65 58.71	1.54 2.62%
SUGAR #11 WORLD	14.85	15.05 14.35	0.41 2.84%