Oil prices rally up amidst hopes of Sino-American trade tensions easing

News Image

MG News | December 12, 2018 at 11:21 AM GMT+05:00

0:00

December 12, 2018 (MLN): Oil prices edged up by more than 1 percent on Wednesday, mainly due to expectations that an OPEC-led supply cut would stabilize markets as well as hopes that long-running Sino-American trade tensions would mitigate. Disruptions to Libyan oil exports after local militia seized the country's biggest oil field also lifted the oil prices.

The higher prices came amidst a broader increase in Asian stock markets after U.S. President Donald Trump announced that trade talks with China were taking place to resolve the trade disputes between the world's two biggest economies.

International Brent crude oil futures were at $60.89 per barrel at 0212 GMT, up 69 cents, or 1.15 percent from their last close.

\"\"

U.S. West Texas Intermediate (WTI) crude futures were at $52.25 per barrel, up 60 cents, or 1.2 percent.

\"\"

Copyright Mettis Link News

Related News

News
Oil rises amid U.S. tariff threats
News
Oil prices rise on hopes of global trade progress
News
India overtakes China in U.S. smartphone exports
Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M 		0.32%
447.43
ALLSHR 85,702.96
423.92M 		0.15%
131.52
KSE30 42,254.84
82.09M 		0.43%
180.24
KMI30 194,109.59
84.37M 		0.15%
281.36
KMIALLSHR 56,713.67
217.03M 		0.03%
16.37
BKTi 37,831.34
13.04M 		1.62%
603.62
OGTi 27,440.63
3.93M 		-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,780.00 119,740.00
118,145.00 		485.00
0.41%
BRENT CRUDE 73.32 73.32
71.75 		0.81
1.12%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00 		2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50 		-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50 		0.00
0.00%
CRUDE OIL - WTI 70.18 70.18
68.45 		0.97
1.40%
SUGAR #11 WORLD 16.49 16.58
16.37 		-0.10
-0.60%
Chart of the Day
Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July

July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July

July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD

Top 5 things to watch in this week
MPC Decision
CPI
Trade Balance
Monetary Aggregates (M3) - Monthly Profile
Consumer Confidence Survey
Previous
Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg