Brent Crude hits 3-month high at over $67 a barrel
26-December-2019
The global benchmark Brent crude on Thursday went over $67 a barrel, logging a three-month high on the back of a US-China trade deal and expectations of supply cut by the Organisation of Petroleum Exporting Countries (OPEC).
Brent Crude was up 0.31 per cent to $67.41 a barrel, while the the West Texas Intermediate (WTI) traded higher by 0.16 per cent at $61.21a barrel.
Earlier this month, US President Donald Trump announced that the US and China will have a signing ceremony for phase 1 of their trade agreement, seen as signalling a partial end to their long standing trade war.
India imports over 80 per cent of its total oil requirements. It is also in the midst of a massive economic slowdown and sharp rise in retail inflation.
IANS
Tamil Nadu Issues Public Advisory as Viral Fever Cases Rise; Masks Urged in Crowded Areas
KCR’s Daughter Kavitha Suspended from BRS Amid Family Rift and Power Struggle
PM Modi Condemns Abuse of His Late Mother at Bihar Rally, Calls It Insult to All Mothers
Indian Army Joins US Troops in Alaska for Yudh Abhyas 2025 Military Exercise
TN, Puducherry Brace for Rain and Strong Winds, IMD Warning for Coastal Areas