Oil extends gains as Brent jumps by 5%

Oil rose today as market’s hopes increased after Trump’s administration announcement which has eased the US-China trade dispute.

Trump’s administration decided to delay the tariffs increase on several Chinese imports until mid-December.

Which comes instead of Trump's decision to impose a 10% tariffs increase on Chinese imports worth $300 billion as of September 1st.

Devices such as cell phones, video games and clothes were exempted from the decision.

As of 16:30 GMT, dollar rose by 0.4% to 97.7 points, with a high of 97.8 and a low of 97.3.

In oil market, By 16:25 GMT, WTI rose by 4.3% to $57.3 per barrel, with a high of $57.4 and a low of $54.2.

Brent jumped by 5% to $61.3 per barrel, with a high of $61.4 and a low of $58.