Oil gains on US-China trade talks optimism

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 rose 26 cents, or 0.45 per cent to $58.03 a barrel by 0759 GMT, having ended last week little changed after tracking the trade talks through their ups and downs.