Oil prices settled higher in holiday-shortened sessions on Tuesday as investors' concerns about lagging crude oil demand eased.
The West Texas Intermediate for February delivery settled 59 cents higher at 61.11 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery added 81 cents to close at 67.20 dollars a barrel on the London ICE Futures Exchange.
China and the United States have agreed earlier this month on the text of a phase one economic and trade agreement based on the principle of equality and mutual respect.
Investors cheered the agreement and adopted more optimistic outlook for crude oil demand.
Editor:Cherie
