Oil prices gained on Monday in Asia, supported by hopes that the U.S. and China might be able to resolve their trade disputes after both sides reported progress in the latest negotiations that ended in Beijing last week.

U.S. President Donald Trump said at a news conference over the weekend that the talks are “going extremely well,” and that Washington was closer than ever before to "having a real trade deal" with Beijing.

U.S. Crude Oil WTI Futures traded 0.6% higher to 56.31 by 1:16 AM ET (06:16 GMT).

International Brent Oil Futures gained 0.4% to 66.50.

After ending 2018 in freefall, oil prices have rallied approximately 23% to start the year, boosted by efforts by global producers to cut supply.

Source : Investing.com