Oil prices surged on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut.
China and the United States agreed on Saturday to a truce in their trade war following talks between Chinese President Xi Jinping and U.S. President Donald Trump on the sidelines of the G20 summit in Argentina.
Oil prices surged on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut.
The trade war truce agreed by China and the United States at the weekend could help them resolve their differences amicably, but lasting improvements in relations will depend on U.S. “sincerity”, Chinese state media said on Monday.
Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.
The trade war truce agreed by China and the United States at the weekend could help them resolve their differences amicably, but lasting improvements in relations will depend on U.S. “sincerity”, the official China Daily said on Monday.
Asian shares looked set to rally on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.
U.S. stock index futures jumped on Sunday after China and the United States agreed at a G20 summit to shelve any new tariffs and reset discussions for 90 days, at least temporarily halting an increase in their tensions over trade.
Many delegates from the world’s 20 largest economies arrived at a summit in Argentina this week determined to clinch an agreement to reform the global trade system, pushed to a breaking point by tensions between the United States and China.
Asian shares looked set to rally on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global growth outlook and a positive for emerging markets.
One of the darkest clouds hanging over Wall Street somewhat dissipated on Saturday when China and the United States agreed to shelve any new tariffs and reset discussions, at least temporarily halting an increase in their tensions over trade.
Omani Energy Minister Mohammed bin Hamad al-Rumhy said on Sunday that he believed there was a consensus among OPEC oil producers that oil output should be cut.
Amazon.com Inc is testing its cashierless checkout technology for bigger stores with larger spaces and experimenting the technology in Seattle, the Wall Street Journal reported on Sunday.
China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on Jan. 1.
Several European countries have either ordered vehicle recalls by carmakers over diesel emissions cheating or plan to do so, German weekly Bild am Sonntag reported without citing sources.
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