London/New York: Oil advanced to the highest in almost three months as the world’s biggest economies prepare to continue negotiations this week after President Donald Trump was said to consider pushing back the deadline for tariff hikes.
Futures in New York on Monday rose to the highest intraday level since 20 November, after advancing 5.4% last week. The US and China sent signals after last week’s talks in Beijing that the two sides may be approaching a deal, raising hopes that the nations’ trade war will ease. Prices were also supported as Saudi Arabia pledges to cut its crude output beyond the level agreed with OPEC producers.
