Oil trades higher as investors await Trump speech

Tuesday, 12. November 2019 11:42

Oil prices rose on Tuesday after struggling at the beginning of the week due to demand concerns. United States President Donald Trump is expected to talk about trade later in the day when he addresses the Economic Club of New York in a speech which traders hope will provide more information on progress with China.

Global benchmark Brent for January settlement gained 0.72% to $62.66 per barrel at 5:40 am ET, while West Texas Intermediate crude futures for December advanced 0.63% to $57.26 a barrel.

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