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Financial News: Crude Oil Prices Extend Recent Gains

Crude Oil Prices Extend Recent Gains

11/04/2019 - 15:02:00 (RTTNews)

(RTTNews) - After spiking $2.02 to $56.20 a barrel in the previous session, crude for December delivery is adding to its gains on renewed optimism about the outlook for global demand.

West Texas Intermediate climbed $0.45 or 0.80 percent to $56.68.

Negotiators for both China and the United States suggest that a trade agreement could be in place sometime this month.

"We're in good shape, we're making good progress, and there's no natural reason why it couldn't be," Commerce Secretary Wilbur Ross said in an interview with Bloomberg on Sunday.

Report from China's Xinhua News Agency added that U.S. and Chinese trade negotiators have "reached consensus on principles."

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