Crude Advances as U.S., China Close in on Healing Trading Rift - Bloomberg

Crude Advances as U.S., China Close in on Healing Trading Rift - Bloomberg:

Oil climbed as the U.S. and China were said to be near a settlement of a trade dispute that threatened to erode energy demand in the world’s largest economies.

Futures in New York rose 1.4 percent on Monday. American and Chinese negotiators are close to signing an accord that would lift tariffs and usher in new intellectual-property protections, according to people familiar with the talks. Meanwhile, OPEC crude exports fell by almost 700,000 barrels a day last month, tanker-tracking consultant Kpler said in a report.