SA: U.S. crude finishes +4% on trade truce, anticipated supply cuts

© Khunaspix Dreamstime.

Seeking Alpha writes: “Oil prices soared today after the U.S. and China agreed to a 90-day truce in their trade dispute, Canada’s Alberta province ordered a production cut to ease a glut, and OPEC looks set to reduce supply: U.S. WTI settled +4% to $52.95/bbl, and Brent +3.7% to $61.69/bbl. OPEC meets on Thursday to decide production levels, and the group plus Russia is expected to announce cuts aimed at reining in a glut that has pulled down crude prices by ...