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After increasing $ 1.84 or 3.2 percent to $ 59.91 per barrel during Thursday season, crude for June delivery for June delivery increased to $ 1.11 or 1.9 percent to $ 61.02 per barrel.
With the spike seen in the last two days, the price of crude oil increased by 4.7 percent for the week.
Extended by crude oil led to optimism about a potential American-China trade deal in front of Treasury Secretary Scott Besant’s conversation with Chinese authorities in Switzerland earlier this week.
A Bloomberg report said that people familiar with people said that the US is expecting its China tariff to be reduced by 60 percent of the current level of at least 145 percent during the weekend talks.
However, President Donald Trump said in a post on the truth social that “80% tariff on China seems correct,” partially offset the positive spirit.
Trump also said that many trade deal is “in hopper”, although traders are cautious even after the announcement of the US-UK trade deal structure tomorrow.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
