Oil prices gain around 1 pct on U.S.-China trade hopes | Reuters

Oil prices gain around 1 pct on U.S.-China trade hopes | Reuters:

Oil prices rose about 1 percent on Monday, boosted by reports that the United States and China could reach a formal agreement as early as this month to end a tit-for-tat trade war that has limited global economic growth. 

Brent crude futures were up 45 cents to $65.52 a barrel by 11:54 a.m. EST (1654 GMT). U.S. West Texas Intermediate (WTI) crude futures rose 53 cents, or 1 percent, to $56.33 a barrel.

Washington and Beijing appeared close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods as China pledges to make structural economic changes and end tariffs on the United States, a source briefed on negotiations said on Sunday.