Brent Tops $68 a Barrel on Trade Optimism, Inflation Data
By
Giulia Petroni, Dow Jones Newswires
Brent crude climbs back above $68 a barrel after President Trump's comments on a trade deal with China fueled market optimism, while inflation data eased, defying fears tariffs would start to drive up prices.
The international oil benchmark rises 1.9% to $68.16 a barrel, while the U.S. oil gauge gains 2.3% to $66.46 a barrel.
The agreement between the world's largest economies--still awaiting final approval from Trump and Chinese leader Xi Jinping--would allow the U.S. to impose a 55% tariff on imported Chinese goods, while Beijing would charge a 10% tariff on U.S. imports.
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