UPDATE 9-Oil nears 3-month high as trade hopes, UK election boost sentiment

* U.S.-China agreed to roll back some tariffs
* Brent/WTI hit highest settlement since Sept. 16
* Conservative victory in Britain paves way for Brexit
* Weaker dollar adds support
* OPEC+ further oil supply cut starts in January
* Coming Up: US CFTC to report speculator positions

(Updates bullet points to settlement)
By Scott DiSavino
NEW YORK, Dec 13 (Reuters) - Oil rose on Friday to its
highest in nearly three months as investors cheered progress in
resolving the U.S.-China trade dispute and a decisive general
election result in Britain.
Washington and Beijing announced a "Phase one" agreement
that reduces some U.S. tariffs in exchange for increased Chinese
purchases of American farm goods. Brent LCOc1 futures, the global benchmark, gained $1.02,
or 1.6%, to settle at $65.22 a barrel, while U.S. West Texas
Intermediate (WTI) crude CLc1 rose 89 cents, or 1.5%, to
$60.07.
Both contracts settled at their highest since Sept. 16, up a
little over 1% for the week.
China has agreed to buy $32 billion of additional U.S. farm
products over two years as part of a phase one trade pact, U.S.
Trade Representative Robert Lighthizer told reporters on Friday,
adding the deal would be signed the first week of January.
Chinese officials, however, offered no specifics on the
amount of U.S. agricultural goods Beijing agreed to buy, a
sticking point in negotiations to end the 17-month trade war
between the world's two largest economies. "It looks like President Donald Trump got his trade deal
just in time for Christmas," said Phil Flynn, an analyst at
Price Futures Group in Chicago. He said that while "markets
jumped" on the trade news, he would like to see more details
from the Chinese.
Britain's ruling Conservative Party won a large majority in
Thursday's general election, paving the way for Prime Minister
Boris Johnson to remove the country from the European Union.
Uncertainty about Brexit had also weighed on oil prices.
"With a large win for Boris Johnson in the UK general
election and an 'almost there' for the U.S.-China trade war,
it's up we go for Brent crude," said Bjarne Schieldrop, an
analyst at SEB.
"Oil demand growth will likely rebound along with a rebound
in global manufacturing."
A drop in the U.S. dollar .DXY coupled with a strong pound
also helped boost commodities.
"Risk appetite among financial investors is now likely to
remain high thanks to the deal between the U.S. and China and
the forthcoming end to the Brexit cliffhanger," said Eugen
Weinberg, an analyst at Commerzbank. "This will also benefit the
oil price."
U.S. retail sales rose less than expected in November as
Americans cut discretionary spending. Brent has rallied 21 percent in 2019, supported by efforts
by the Organization of the Petroleum Exporting Countries (OPEC)
and allies including Russia to cut production.
The alliance, known as OPEC+, agreed last week to lower
supply a further 500,000 barrels per day as of Jan. 1. OPEC/M
IEA/M
Oil prices did not move much when a U.S. House of
Representatives committee took Trump to the brink of
impeachment, approving two charges stemming from his efforts to
pressure Ukraine to investigate Democratic political rival Joe
Biden.