The rebound in oil continues
Signs of progress in US-China trade talks have boosted optimism about global growth and that’s given oil a lift.
WTI crude oil is up $1.60 today to $53.63, which is the best level since December 7.
The rally today also clears the 55-dma for the first time since mid-October. To really get things moving, crude will need to rise above the December high of $54.55.