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Crude oil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China trade conflict and U.S. inventory data.
At 1:28 p.m. ET, Brent crude was trading up 2.09% at $66.02, while the U.S. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63.
A weaker U.S. dollar, bullish inventory data, and renewed hopes for easing U.S.-China trade tensions are all boosting crude today, particularly following a Bloomberg report suggesting China may be open to trade talks —pending specific actions from the Trump administration.
– Oilprice.com
