Oil Jumps As U.S. Offers To Cut Tariffs By 50%

Oil prices rose by more than 1 percent early on Thursday after U.S. President Donald Trump said that the United States was very close to some sort of a deal with China and as the U.S. has reportedly offered China to roll back some existing tariffs and cancel a new round of tariffs set to take effect on December 15. At 11:06 a.m. EDT on Thursday, WTI Crude was up 1 percent at US$59.35 and Brent Crude was trading up 1.13 percent at US$64.44. Earlier on Thursday, President Trump tweeted “Getting VERY close to a BIG DEAL with China. They want…