Oil prices were up on Monday, buoyed by hopes of progress in U.S.-China trade talks and supported by challenges to supply facing major exporters.
Brent crude rose 73 cents or 1.3% to $59.11 a barrel, while U.S. West Texas Intermediate (WTI) crude was at $53.65, up 84 cents or 1.6%.
Both futures contracts ended last week with a more than 5% decline after dismal manufacturing data from the United States and China, with the trade row between the world’s top economies undermining global economic prospects.
U.S. and Chinese officials meet in Washington on Oct. 10-11 in a fresh effort to work out a deal.
Source : Reuters