Oil holds around $60 as U.S.-China trade hopes support

Financial Post | Sep 13, 2019 at 8:40 AM
  • Oil steadied above $60 a barrel on Friday as hints of progress in the U.S.-China trade dispute balanced concerns about slowing global economies and oil demand.
  • Benchmark Brent crude was down 6 cents at $60.32 a barrel by 1152 GMT, while U.S. West Texas Intermediate rose 2 cents to $55.11.
  • An OPEC+ monitoring committee met this week and secured pledges from OPEC members Nigeria and Iraq to deliver their share of the cut, something they have failed to do so far, but made no progress on possibly deepening the supply curbs.