Turmoil in Iraq, Ecuador push up world oil prices

SANAA, Oct. 9 (YPA) – Oil prices rose Wednesday due to trade tensions between China and the United States and unrest in Iraq and Ecuador.

By 1016 GMT, Brent crude futures rose 65 cents to 58.89 dollars a barrel, and US West Texas Intermediate crude rose 56 cents to 53.19 dollars a barrel. The two stocks increased more than 1%.

Negotiators from the world’s two largest economies are due to meet in Washington on Thursday and Friday in the latest push for a deal to end a protracted trade dispute that has slowed global economic growth.

The tensions between the two countries increased this week after the United States imposed visa restrictions on Chinese officials and blacklisted a number of major Chinese companies.

YPA