NEW YORK (Reuters) – Oil costs on Tuesday jumped by essentially the most up to now this yr after the USA mentioned it might delay imposing a 10% tariff on sure Chinese language merchandise, easing issues over a worldwide commerce conflict that has pummeled the market in latest months.
FILE PHOTO: A view of an oil refinery off the coast of Singapore March 14, 2008. REUTERS/Vivek Prakash
The Chinese language merchandise embody laptops and cellphones. The tariffs had been scheduled to begin subsequent month.
“The U.S.-China commerce conflict has prompted vitality demand development to take an enormous hit. Any glimmer of hope revives the prospects for a extra optimistic demand panorama,” mentioned John…