Oil prices rose on Thursday, rebounding from earlier losses, after the US confirmed that talks with China to reach a trade agreement would be held in the coming weeks, giving hope that a dispute that has roiled global economies will be resolved.
The gains add to a surge in prices on Wednesday that had been driven by a survey showing activity in China’s services sector expanded at the fastest pace in three months in August, as new orders rose in the world’s second-biggest consumer of oil.
Brent crude was up 21 cents, or 0.4 per cent, at $60.91 a barrel by 0301 GMT. On Wednesday, Brent rose 4.2 per cent. West Texas Intermediate (WTI) was up 17 cents, or 0.3 per cent, at $56.43 a barrel, having risen 4.3 per cent the previous session, the biggest percentage gain in
