Oil Rises From One-Month Low Before U.S. Crude Inventory Data
Oil climbed from a one-month low in New York ahead of data on American crude inventories, while traders weighed erratic global supplies and the fallout from U.S.-China trade tensions. Prices rose 0.2 percent, after front-month futures closed at their lowest since June 21 on Monday. U.S. government data is forecast to show that stockpiles resumed a decline that’s been in progress since early June. Meanwhile, China unveiled a package of policies to boost domestic demand and cushion the impact of trade conflict with the U.S., buoying appetite for risky assets. Read more here.