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Crude Oil prices are Close to Highs

01/10/2019

Oil prices remained stable and kept close to two-month highs, and trade relations between the US and China stimulated the market.
According to the Ministry of Commerce of China, resellers on both sides are close to agreeing on trade at the first stage.
Markets have become signs of continued negotiations going on as good news, but media sources acknowledge that obstacles remain, such as tariff rollbacks, for example.
The market is still winning support from the forecast that production cuts by the Organization of Petroleum Exporting Countries and Russia will expand when the parties meet next month in Vienna.
Reuters predicts the first decline in oil reserves in five weeks when the American Petroleum Institute will report later. These numbers will show economic data for the day, which will be presented in the form of US trade data for consumers.

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