Commodities

Oil widens gains, on track for weekly profit

2019-02-15 18:39:50 GMT (Economies.com)

Oil prices rose today as the dollar steadied against most major rivals amid optimism on US-China trade talks. 

 

US President Donald Trump said his administration is still not near a full trade agreement with China. 

 

He nonetheless asserted negotiations are going very well, with financial markets improving in response and nearing recent record highs. 

 

As of 17:10 GMT, the dollar index settled at 97.09, with a session-high at 97.3. 

 

Baker Hughes is expected to release data on US rig activity later today. 

 

US West Texas rose 2.2% to $55.5 a barrel, with a session-high at $55.7. 

 

Brent rallied 2.2% to $66.03 a barrel, with a session-high at $66.1 a barrel. 

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