06/01/2019
*SINGAPORE (Reuters)
Oil prices rose today, reversing previous losses after China said it will hold talks with the US government on the seventh and eighth of January in order to seek solutions to trade disputes between the two largest economies in the world.
Brent crude futures were $ 56.12 a barrel by 0542 GMT, with an increase of 17 cents, or 0.3 percent, from the previous settlement.
US West Texas Intermediate crude futures rose 16 cents, or 0.3 percent, to reach $ 47.25 a barrel.
The crude fell early in the session on fears that a trade war between China and the United States could lead to a global economic slowdown.
Traders said the price rise came after China's Ministry of Commerce said that it would hold deputy-level talks with US counterparts in Beijing on January 7th and 8th, with both parties seeking to end a dispute that would further damage the economy of the two countries.
