Oil prices held on to three-month highs on Monday, underpinned by optimism over an expected China-US trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in Iraq and Syria.

Brent crude futures were up 1% at $68.87 a barrel. The international benchmark has risen around 27% in 2019.

West Texas Intermediate crude futures rose 36 cents to $62.08 a barrel. The U.S. benchmark is up about 36% so far this year.

The two countries on Dec. 13 announced a “Phase one” agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.

Source: CNBC