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Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day, Reuters reported.
Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2 per cent at the end of last week.
Oil prices climbed early on Friday, building on gains in the previous session, after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the U. S. and China to end their trade war.
Asian shares inched up on Tuesday, with Chinese shares making decent gains after a week-long holiday, though investors remained cautious over U.S.-China trade talks after President Donald Trump said a quick deal was unlikely.
Oil prices rose on Tuesday, buoyed by overnight gains in industrial commodities, while unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption, adding to support.
Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia’s pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend.
Oil fell more than one per cent yesterday as the market was challenged creating uneasiness following attacks on Saudi Arabian crude facilities that cut the kingdom’s production in half and sent prices soaring by the most in decades.
Asian stocks stumbled and oil prices extended a punishing sell-off on Thursday as investors feared an historic drop in long-term U.S. bond yields could portend a recession globally.
Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.
Stock markets have rallied after the US and China agreed to restart trade talks, easing fears over the escalation of a damaging dispute between the world's two biggest economies.
Oil prices rose more than one dollar a barrel on Monday after Saudi Arabia, Russia and Iraq backed an extension of supply cuts for another six to nine months ahead of an OPEC meeting in Vienna.
Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East.
Oil prices rallied towards 65 dollars per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20 per cent of the world’s oil output.
Angola, a key provider of oil to China, has suffered its slowest trading month this year as poor refining margins, high freight rates and subdued demand amid the trade war between Beijing and Washington curbed its sales.
Female faculty members at a flagship university in Egypt will not be able to wear the niqab, or full face veil, ruled the country’s top administrative court as it upheld a ban, state media reported on Monday.
A university in Pakistan-administered Kashmir, on Monday, cried out on social media for banning female students from wearing lipstick on campus.
Rafa Nadal tamed a spirited challenge from Nick Kyrgios with a superb performance to reach the Australian Open quarter-finals for the 12th time.
The Gambian government on Sunday launched a crackdown on a weeks-old movement demanding the departure of President Adama Barrow, following violent demonstrations in which medical officials say three protesters were killed.
A 35-year-old woman, Ganiat El-Hakeem, on Monday appeared in an Ikorodu Magistrates’ Court in Lagos, for allegedly pouring hot water on a 12 year-old girl.
Houthi rebels have gained ground east of the Yemeni capital Sanaa, in what the defence minister acknowledged as a "tactical withdrawal" by government loyalists.
A Lagos-based company director, Peter Owojuyigbe, was on Friday arraigned at the Lagos Magistrate Court, Igbosere, for allegedly stealing chemicals worth N59.9 million.
Lady Princess Onuoha (APC) (Mama Sure P) Defeats Hon. Obinna Onwubuariri (PDP) and Others with a wide margin, in the just concluded Okigwe North Federal Constituency rerun election.
The Spokesman for the Plateau State Police Command, Mr. Mathias Tyopev, on Tuesday confirmed the abduction of the daughter of a former Commissioner for Tourism in the state, Mr Peter Mwadkon, by gunmen who attacked their family house in Kwata Community, Jos South Local Government Area of the state.
The National Hospital says it has been recording high patronage on knee and hip replacement surgeries since 2015.