Oil Surges 3% on U.S.-China Tariff Truce and Demand Optimism

Oil prices jumped 3% on Tuesday after the U.S. and China agreed to a 90-day pause on new tariffs, easing fears of another front in the global trade war and improving the outlook for economic growth—and by extension, oil demand. Brent crude was last trading at $66.79, up $1.83 (+2.82%) in afternoon trade, while WTI climbed to $63.85, a gain of $1.90 (+3.07%). The rally marks a strong reversal from earlier this month, when prices slumped on supply pressure and weak macro sentiment. The tariff reprieve gives both sides room to de-escalate, but…