Oil Climbs to Level Last Seen After Saudi Attacks in SeptemberBy
China, U.S. ink accord that will avert new tariffs on Dec. 15
Trump tweets that existing import levies will remain in effect
Oil settled above $60 a barrel for the first time since missile strikes on Saudi Arabia sparked a record price surge three months ago.
Futures closed 1.5% higher in New York on Friday, buoyed by a partial truce in the U.S.-China trade war that has imperiled demand all year. Chinese officials said the countries agreed to hold off on a new round of tariffs set to go into effect in a matter of days. The bullish momentum was undermined when U.S. President Donald Trump tweeted that existing levies will remain in effect.