Oil extends gains, Brent jumps above $65

Oil prices rose today, to extend gains after the between the world's two largest economies announced that they officially agreed on the terms of the phase one of the final trade deal.

The Trump administration announced that they have officially agreed on the terms of the phase one of the final trade deal and started immediately to negotiate the phase two, and that canceled the tariffs hike decision against China, which was due next Sunday.

After the announcement, and the two sides starting immediately to negotiate the phase two, stocks, oil and risk assets surged.

Baker Hughes will release later today the US drilling activities data for the current week.

West Texas Intermediate crude (WTI) rose by 1.3% to $59.9 as of 17:03 GMT, with a session-high of $60.4 and a low of $59.2. 

Brent rose by 1.5% to $65.1 a barrel, and hit a high of $65.7 and a low of $64.5.