Oil Prices Up More Than 2% and Brent Crude Reaches $ 62.14 a Barrel

June 19, 2019

Oil prices rose on Tuesday as concerns over the trade war eased following U.S. President Donald Trump's remarks ahead of U.S. crude inventories report.

Brent crude futures gained $1.20, or 2%, to settle at $62.14 a barrel. U.S. West Texas Intermediate crude futures rose $1.97, or 3.8%, to settle at $53.90 a barrel.

West Texas Intermediate crude for July delivery rose $1.97, or 3.8%, to settle at $53.90 a barrel, the highest finish since June 7.

Prices also saw their largest one day dollar and percentage gain since Jan. 9.

Meanwhile, The US Dollar Index (USDX) – a measure of the value of the U.S. dollar relative to a basket of foreign currencies – rose 0.1% to 97.7 points.

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