Global benchmark Brent crude and West Texas Intermediate crude both rose to session highs at $67.56 and $66 a barrel, respectively, rivaling levels last seen in April.
The gains could be coming from optimism on U.S.-China trade talks, but the broader picture still points to a downtrend. OPEC+, a coalition of oil producing nations, is adding more supply to the market while forecasts of falling growth have raised fears about energy demand. Lower demand, higher supply is a recipe for lower oil prices.
www.barrons.com
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