US EditionOil prices climb 2% to two-week high
- On Monday, following talks in Geneva, the U.S. And China announced a temporary suspension of some tariffs, which led to a rise in global oil prices and stock markets.
- This agreement followed escalating tensions in their trade war, which had pushed oil prices to a four-year low in April due to fears of reduced demand.
- The two countries agreed to cut tariffs by over 100 percentage points to a 10% baseline for 90 days and planned further economic discussions.
- Ole Hansen of Saxo Bank noted that the tariff rollbacks ease concerns about extended economic disruptions affecting demand, which helped push Brent oil prices above $65.
- The temporary tariff suspension suggests improved demand prospects for oil but analysts note that negotiation challenges and a full U.S. Policy retreat remain unlikely.
Insights by Ground AI
Does this summary seem wrong?
32 Articles
32 Articles
All
Left
2
Center
3
Right
2
Oil prices climb 2% to two-week high
Oil prices climbed about 2% to a two-week high on Monday after the US and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world's two biggest economies. Brent crude futures rose $1.35, or 2.1%, to $65.26 a barrel by 1539 GMT, while US West Texas Intermediate (WTI) crude gained $1.40, or 2.3%, to $62.42. The US and China reached a better-than-expected deal to temporarily slash tariffs, sending Wall …
·Pakistan
Read Full Article
Coverage Details
Total News Sources32
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 29%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
