Oil steadies as U.S.-Iran optimism faces U.S.-China trade deal hopes - Reuters

Oil steadies as U.S.-Iran optimism faces U.S.-China trade deal hopes - Reuters:

Oil prices steadied on Monday after France’s president lifted hopes for a deal between the United States and Iran, while optimism for easing U.S.-China trade tensions supported prices.

Brent crude fell 13 cents to $59.21 a barrel by 11:35 a.m. EDT (1535 GMT), after earlier hitting a session high of $60.17.

U.S. West Texas Intermediate (WTI) crude futures rose 16 cents to $54.33 a barrel, after reaching $55.26 a barrel.

Prices fell after French President Emmanuel Macron said preparations were underway for a meeting between Iranian President Hassan Rouhani and U.S. President Donald Trump in the coming weeks to find a solution to a nuclear standoff.