Oil prices traded higher on Thursday after the International Energy Agency warned that global oil inventories are falling at a record pace and will continue to drop for months as a result of disruption to Middle East supplies.
Investors also await the outcome of U.S. President Donald Trump’s summit with Chinese President Xi Jinping in Beijing. The three-day state visit focusses on trade, tariffs, artificial intelligence, Iran war, Taiwan, rare earths, and supply chains.
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