WASHINGTON (dpa-AFX) - Oil prices held steady near three-month highs in thin trade on Thursday ahead of the holiday season.
Benchmark Brent crude edged up by 3 cents to $66.20 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were virtually unchanged at $60.85.
A potential thawing in U.S.-China trade relations has improved the global economic outlook, raising the prospect for higher energy demand next year.
China has announced a list of United States (US) chemicals that will be exempted from import tariffs starting Dec. 26. This comes under a week after Beijing and Washington agreed a 'phase one' trade deal.
Meanwhile, traders seemed to have shrugged off the vote in the U.S. House to impeach President Donald Trump.
The United States House of Representatives voted largely along party lines to impeach Trump for abuse of power and obstruction of Congress.
The move to impeach Trump relates to his alleged efforts to coerce Ukraine into investigating former Vice President Joe Biden as well as his alleged attempts to obstruct the Congressional investigation.
Republicans currently hold a 53 to 45 majority in the Senate, with two Democratic-leaning independents, and removing Trump from office would require a two-thirds vote in favor.
Several Senate Republicans have already indicated they will not vote to remove Trump from office even before the Senate holds its trial on the House charges.
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