Oil climbs for seventh day as trade talks fuel demand optimism
Oil rallied for a seventh day as US negotiators touted progress in trade talks with China and investors gained faith that OPEC will shrink output.
Futures increased as much as 3% to almost $50 a barrel in New York on Tuesday.
Talks with China are “going very well,” US President Donald Trump said in a tweet as the delegations in Beijing extended their meeting into Wednesday. Meanwhile, US crude inventories probably declined last week, easing worries about a glut.
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