Singapore : Crude oil futures rose, as Asian stock markets gained on news that North Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
The two will likely meet by May and Kim has pledged to refrain from further nuclear or missile tests, South Korea´s national security chief said late on Thursday after briefing White House officials on talks between Seoul and Pyongyang.
The White House said Trump would accept the invitation at a place and time to be determined. The news lifted Asian stocks markets, and pulled crude oil futures along with them, traders said.
Brent crude futures were at $63.79 per barrel at 0625 GMT, up 18 cents, or 0.3 percent, from their previous close.
U.S. West Texas Intermediate (WTI) crude futures were at $60.25 a barrel, up 13 cents, or 0.23 percent.
Despite these increases, Brent and WTI are on course for weekly declines of almost 1 percent and 1.7 percent, respectively.
Source: FS – All – Economy – News 2