Grant Smith The price of crude oil rose to almost $70 a barrel, a level last breached in November, as global crude supplies tightened, while hopes for an end to the US-China trade impasse lifted financial markets.

Richy’s Restaurant & Cafe, Wolfe Tone St, Clonakilty, Co Cork, 023-8821852, richysbarandbistro.com

China’s growing thirst for oil will place a greater strain on the world’s top supplier, Saudi Arabia, at the very time doubts are being raised about the kingdom’s ability to substantially increase production.