Oil prices climbed on Tuesday, buoyed by hopes for progress in U.S.-China trade negotiations, but gains were held in check amid expectations for another build in U.S. crude stockpiles.

U.S. West Texas Intermediate crude was up 21 cents at $53.72 per barrel by 07:54 AM ET (11:55 GMT), while international benchmark Brent crude was up 21 cents at $59.16 a barrel.

Hopes the U.S. and China were making progress to resolve their trade dispute underpinned gains in oil prices.

China's Vice Foreign Minister Le Yucheng said progress was being made in talks and that while both sides respected each other, no problem was beyond resolution.

Source : Investing.com