Oil prices gained nearly 1% on Thursday on hopes that the United States and China were close to reaching a deal on an ongoing trade dispute that has raised concerns about global demand for crude, Trend reports citing Reuters.
Brent crude LCOc1 futures rose 48 cents to settle at $64.20 a barrel. West Texas Intermediate (WTI) crude CLc1 futures rose 42 cents to settle at $59.18 a barrel.
Trump tweeted on Thursday that the United States was very close to a big deal with China amid reports that the country was considering a delay or possible cancellation of tariffs scheduled to go into effect on Dec. 15.