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NEW YORK: Global equity markets and oil prices rose on Friday after China and the United States agreed on an initial trade deal that rolls back some U.S. tariffs in exchange for China's increased purchase of farm goods, cooling a contentious trade war.
SINGAPORE: Oil rose to US$60 a barrel for the first time in almost three months after US President Donald Trump signed off on a partial trade deal with China, giving a boost to the fragile outlook for global oil demand.
SINGAPORE: Oil retreated from its highest close in almost three months after an industry report showed American crude inventories expanded last week, adding to concerns over weakening demand.
SINGAPORE: Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members.
SEOUL: Oil sputtered near US$58 a barrel as the Opec+ coalition failed to pin down the details of an agreement to adjust its official output target even after six hours of talks in Vienna.
KUALA LUMPUR: The ringgit was higher against the US dollar in early trade today as market sentiment towards the ringgit was lifted by reports of declining oil stockpile in the United States, which in turn, has caused the global oil price to increase.
NEW YORK: Oil prices surged more than 3% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles.
NEW YORK: Oil steadied on Tuesday, settling narrowly mixed as expectations of output cuts from OPEC and allied producers helped prices bounce after a slide following comments from U.S. President Donald Trump that a trade deal with China may be delayed.
NEW YORK: A comment by President Donald Trump that a deal to end the U.S.-China trade war might not come until after the November 2020 election weighed on global stock markets on Tuesday, sending investors to the safety of bonds.
KUALA LUMPUR: The ringgit was higher against the US dollar in early trade today on better demand for the local note due to higher global oil price and weak US manufacturing data.