Oil rises as hopes grow for U.S.-China trade breakthrough - Reuters

Oil rises as hopes grow for U.S.-China trade breakthrough - Reuters:

Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China following positive comments by Beijing, calming concerns raised by an earlier round of tit-for-tat tariff hikes.

Brent crude LCOc1 was up 39 cents, or 0.7%, at $59.09 a barrel by 1220 GMT, after falling 1% in the previous session. Tuesday’s slide was the third daily decline in a row.

U.S. West Texas Intermediate crude futures CLc1 were up 57 cents, or 1.1%, at $54.21, after a 1% fall on Monday and heading for a fourth daily decline.