Oil prices were up on Monday, buoyed by hopes of progress in US-China trade talks and supported by challenges to supply facing major exporters.
Brent crude rose 34 cents or 0.6% to $58.71 a barrel, while WTI crude was at $53.16, up 35 cents or 0.7%, CNBC reported.
Both futures contracts ended...
Saudi Aramco’s trading arm bought 70,000 tons of naphtha from Indian Oil Corp on Friday at premiums not seen since 2013 as it seeks to plug a supply gap following Sept. 14 attacks on its facilities, trade sources said on Monday.
Aramco Trading Company paid a premium to IOC price formula on a...