NEWS： Boosted by the low inventory of the United States and the progress of Sino US tr

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Oil prices rose to a three-month high Thursday in light trading ahead of Christmas, boosted by news of the previous day's decline in US crude oil inventories and continued easing of trade tensions between China and the US.
Brent crude rose $0.37 to close at $66.54 a barrel, the sixth straight session of gains.
US crude rose 29 cents to close at $61.22 a barrel.
Market trading is light and oil prices are set to rise for a third week in a row. China's decision on December 13 to cancel its plan to impose tariffs on US imports on December 15 and the first phase of a trade agreement between Washington and China eased trade tensions, boosting oil prices.
Trade agreements between the world's two largest economies have improved the outlook for the global economy, boosted prospects for higher energy demand next year and supported oil prices.
"At present, the market is happy with the cancellation of the tariff plan (on December 15) and the temporary truce of the trade war," said Bill Baruch, President of blue line futures.
The Tariff Commission of the State Council of China announced on Thursday the second exclusion list of the first batch of goods subject to us and Canadian tariffs, and decided not to impose any duties imposed by China for anti US 301 measures from December 26, 2019 to December 25, 2020, and the added duties will not be returned. This is a sign of further thawing of Sino US relations.
Another factor behind the rise in oil prices is the agreement reached this month between the organization of Petroleum Exporting Countries (OPEC) and non OPEC oil producing countries such as Russia to cut production by another 500000 barrels a day on the basis of 1.2 million barrels a day from January 1 next year.


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