Oil surges as 'positivity' on China trade war talks boost global stock markets
Oil approached its highest levels for the year amid a positive outlook for global markets before US-China trade talks kick off today in Washington.
Asian stocks rallied to seven month highs following comments from White House economic adviser Larry Kudlow that the US hopes"to make more headway" in trade talks.Global markets are basking in optimism on the outcome of US-China trade talks kicking off in Washington today, with the improved sentiment also boosting energy prices.
Brent crude approached its highest levels this year and sits just outside the $70 a barrel bracket as tighter supply continues to boost prices. Traders are also positive that the easing trade war concerns will improve China's energy demand, similarly aiding prices.out of China and a belief that a resolution to the lengthy US-China trade war may be in sight.
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