Oil prices rose today on hopes of progress toward a trade agreement between the United States and China, the world’s biggest oil users, and predictions of a draw in U.S. crude inventories.
Brent crude oil was up 20 cents at $63.85 at 0958 GMT. WTI crude rose 19 cents to $58.20, Reuters reported.
Analysts at J.P. Morgan expect that OPEC+ may extend the output cuts until the end of 2020, the bank said in a note.
