A pump jack is seen at sunrise near Bakersfield, California October 14, 2014.
Brent crude oil briefly rose above $70 per barrel, but at the time of writing the price was at $69.83 a barrel, up 1.72 per cent. That was the highest finish for the most active contract since December 1, 2014, according to FactSet.
Light, sweet crude for May delivery rose $1.29, or 2%, to $64.71 a barrel on the New York Mercantile Exchange, trading at a one-week high.
"This has been another huge day", said Bill Baruch, president of Blue Line Futures in Chicago.
Crude prices rallied for the second day in a row yesterday, as appetite for riskier assets improved after a speech by Chinese President Xi Jinping eased concerns about a trade conflict between the United States and China.
The price of a Brent barrel surpassed the $70 mark in morning trading on Tuesday, after a rather rocky start to the week. Both have erased their losses from last week, when concerns over a possible trade war between the two largest economies contributed to declines of more than 4 percent. "However, fundamental support levels have been demonstrated with OPEC's suggestion on a production limit extension into 2019", said Singapore-based Phillip Futures. "We're taking a hit with the rest of the market".
Beyond the trade dispute, oil markets are also concerned about the potential of renewed US sanctions against some significant oil producers.
A trade dispute between the USA and China could lead to slower economic growth that would limit oil demand. The dollar fell against a basket of major currencies.DXY, hitting its lowest in almost two weeks.
The American Petroleum Institute will publish storage data later today while the US Energy Information Administration releases its monthly report on US production. Analysts anticipated a decline in crude and gasoline inventories.
"China is the main importer (after Canada) of US crude oil, to the tune of about 400,000 barrels per day", Petromatrix said, Reuters reported.
Meanwhile, Saudi Arabia's Energy Ministry said it would keep exports below 7 million bpd and restore its inventories to normal levels.
Apart from the original variant of the OnePlus 6 smartphone, the company aims to launch a couple of special edition of this phone. The phone will run on OxygenOS (optimised for the notch, according to CEO Pete Lau) which is equivalent to Android 8.1.
We don't understand, and even the government, that what is the extent of the hole in the financial system", Gandhi said. He was on the sixth leg of campaigning as part of the "Janashirvada Yatra " ahead of the May 12 polls in Karnataka.
Clear cool nights with lows upper 40s to mid 50s and highs low 70s to low 80s Wednesday through Friday . We are waking up to cloudy skies on this Sunday morning across northwest Missouri and northeast Kansas.
The 6GB RAM variant of the phone could end up being called the LG G7 ThinQ Plus, but we're only guessing, anything is possible. What also appears confirmed is the presence of a dual-camera setup at the back along with a dedicated fingerprint sensor.
Before Thursday's statement, the Indian government had issued warnings about the risk associated with trading. This, however, doesn't necessarily mean that any sort of ban on cryptocurrencies will follow.
This year's card may be the company's most jam-packed ever, with a total of 13 announced matches and a rumoured 7-hour run-time. The 34th WrestleMania will take place at the Mercedes-Benz Superdome in New Orleans , Louisiana and scheduled on 8, April 2018.
Daniel Ricciardo , starting from fourth and already in top form this season, retired with a mechanical fault after one lap. Vettel held on to finish just 0.699s ahead of Bottas while Hamilton battled back from ninth place to complete the podium.
The government will sell the United States dollar at a rate of 42,000 rials to all individuals and businesses. Iran insists its efforts have been for research and technology, and that its missiles are purely defensive.
All of the cases involved unexplained bleeding, such as coughing up blood, blood in the urine, bloody nose or bleeding gums. They are sold for recreational drug use under the names K2, Spice, Black Mamba, Bombay Blue, Genie, Zohai and others.
On Friday, the Dow Industrials, the S&P 500, and the Nasdaq all fell by more than two percent, capping off another down week. The imposition of tariffs, Chinese investment and student restrictions will all hurt the USA more than they will hurt China .
24 school kids among 27 die in HP bus accident
It is not clear what caused the accident to take place and local authorities have ordered an investigation into the crash. Police, local volunteers, team of doctors and other emergency services have been mobilized, he added.
McGregor bailed after being charged with assault by NYPD
Chiesa later said on Twitter that the New York State Athletic Commission determined he would not be allowed to fight on Saturday. The fracas appeared to be related to the Ultimate Fighting Championship's decision to strip McGregor of his title.
Air strikes carried out against Syria's Ghouta as talks sputter
Douma-based media activist Haitham Bakkar also said that 25 people were killed in the airstrikes and shelling that hit the town. Syria and Russian Federation had threatened a resumption of their brutal assault if Jaish al-Islam did not agree to the deal.