Oil prices jump over 3% on US-China tariff reductions
5/12/2025 1:56:20 PM
Oil prices rose more than $2 in Asian trading on Monday after the U.S. and China said they would ease some of their tariff measures, lifting market sentiment that the world's two largest crude users may be moving toward resolving their trade dispute.
Brent crude futures climbed $2.11, or 3.3%, to $64.14 a barrel by 0714 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $63.14 a barrel, up $2.12, or 3.47%, from Friday's close.
Brent crude futures climbed $2.11, or 3.3%, to $64.14 a barrel by 0714 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $63.14 a barrel, up $2.12, or 3.47%, from Friday's close.