India, May 12 -- Following the sharp upward move seen over the two previous sessions, the price of crude oil showed another strong move to the upside during trading on Monday.
Crude for June delivery jumped $0.93 or 1.5 percent to $61.95 a barrel after soaring by 4.7 percent last week due to a spike last Thursday and Friday.
The continued surge by the price of crude oil came amid optimism about the outlook for demand after the U.S. and China reached a trade deal that drastically reduces the massive tariffs on each other's goods.
The White House said the agreement calls for the U.S. and China to each lower tariffs by 115 percent while retaining an additional 10 percent tariff.
The U.S. will retain tariffs imposed in response to the fenta...