Oil futures march higher amid trade optimism, OPEC+ cuts

摘要

New York-Oil futures settled higher Thursday as continued US-China trade deal optimism held focus. ICE February Brent settled up 37 cents at $66.54/b, and NYMEX January WTI was up 29 cents at $61.22/b at market close. Thursday's uptick was the result of tightened supply and demand fundamentals, analysts said. “The idea that increased producer output cuts and a trade deal will help economics and boost demand is pushing some speculative life into market,” Tradition Energy Analyst Gene McGillian said.