China Takes Steps To Call Truce With U.S. – 12 December, 2018

OPEC-led oil supply cuts announced last week kept gains at bay with the capping of 2019 demand forecast, though the commodity still rose in pricing buoyed by a U.S. crude oversupply and a solid effort put forth by China to cool trade war tensions with the U.S. Brent crude oil futures, the international benchmark, were last trading up 31 cents and 0.52 percent to $60.46 per barrel, and U.S. West Texas Intermediate crude futures were last up 25 cents and 0.49 percent to $51.40 per barrel. Beijing is easing high-tech industrial push, and for the first time in six months, China made its first major U.S. purchase of soybeans in a step to declare a truce.