Oil prices rose on the first trading day of 2020 as warming trade relations betw...
SEOUL - Oil prices rose on the first trading day of 2020 as warming trade relations between the United States and China eased demand concerns, and rising tensions in the Middle East raised worries about supply.
Global benchmark Brent crude futures LCOc1, were up 21 cents, or 0.3%, to 66.21 a barrel by 0130 GMT. U.S. West Texas Intermediate crude CLc1 was up 21 cents, or 0.3%, at $61.27 per barrel.
Geopolitical risks remain in the Middle East after U.S air strikes against the Iran-backed Katib Hezbollah militia group over the weekend. Protesters, angry at the air strikes, stormed the U.S. Embassy in Baghdad on Wednesday, although they withdrew after U.S. deployed extra troops. U.S. President Donald Trump said on Tuesday the U.S.-China Phase 1 trade deal would be signed on Jan. 15 at the White House.
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