Oil rose to its highest in nearly three months on Friday as progress in resolvin...
LONDON - Oil rose to its highest in nearly three months on Friday as progress in resolving the U.S.-China trade dispute and Britain’s general election result appeared to lift two clouds that have been hanging over investor risk appetite.
Brent crude, the global benchmark LCOc1, climbed to $65.22 a barrel, the highest since Sept. 23, and as of 1135 GMT was up 99 cents at $65.19. U.S. West Texas Intermediate crude CLc1 gained 74 cents to $59.92. “Risk appetite among financial investors is now likely to remain high thanks to the deal between the U.S. and China and the forthcoming end to the Brexit cliffhanger,” said Eugen Weinberg, an analyst at Commerzbank. “This will also benefit the oil price.”
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