Oil prices rose on Tuesday after the United States and China agreed to extend their mutual tariff truce, easing fears of weaker fuel demand in the world’s two largest crude consumers. Brent crude futures gained 0.3% to \$66.89 a barrel, while U.S. West Texas Intermediate crude futures rose 0.36% to \$64.19.
U.S. President Donald Trump signed an executive order to extend the tariff truce with China for an additional 90 days. The decision revived hopes of reaching an agreement between the world’s two largest economies, potentially avoiding a full-scale trade war.
Source (CNBC Arabia Website, Edited)
