Oil gains on U.S.-China trade talks optimism - Reuters:
Oil prices rose on Monday as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their bitter trade war.
West Texas Intermediate (WTI) crude CLc1 rose 26 cents, or 0.45% to $58.03 a barrel by 0759 GMT, having ended last week little changed after tracking the trade talks through their ups and downs.
Brent crude futures LCOc1 were at $63.73, up 34 cents or 0.54%, the benchmark having also finished little changed last week.
“It is still all about trade talks,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “It seems to be dominating markets action at the moment.”
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