Total volume traded was about 31% below the 100-day average. The more-actively traded July contract rose 53 cents to trade at $71.90.Trade truceBrent futures for July settlement were 0.7% higher at US$79.03 on the London-based ICE Futures Europe exchange. The contract posted a sixth straight weekly gain last week. The global benchmark traded at a US$7.16 premium to WTI for the same month.Yuan-denominated futures dropped 0.6% to 483.5 yuan a barrel in morning trading on the Shanghai International Energy Exchange. Futures gained 3.3% last week, a sixth weekly advance.Trade truceAmerica and China agreed to “substantially” reduce the U.S. trade deficit in goods with the Asian nation after two days of negotiations.

Source: The Star May 21, 2018 07:18 UTC