Trump hails "truly great friendship" with Xi

U.S. President Donald Trump held a welcome ceremony for Chinese President Xi Jinping at the White House on Thursday, hailing the "truly great friendship" he has forged with Xi.

At the invitation of Trump, Xi is paying a state visit to the United States from Wednesday to Friday. It comes just months after Trump paid a state visit to China in May.

The two heads of state each delivered addresses at the White House as part of Thursday's welcome ceremony.

Recalling his friendship with Xi, Trump said "From the time of my first election in 2016, President Xi and I have forged a friendship, a truly great friendship actually, built on mutual respect and the vital interest of our people."

Trump hails "truly great friendship" with Xi

Oil prices climbed on Thursday.

The West Texas Intermediate for November delivery added 2.45 U.S. dollars, or 2.66 percent, to settle at 94.61 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery went up 3.52 dollars, or 3.41 percent, to settle at 106.60 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle higher