Oil prices held above $63 per barrel on Monday as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war.
Brent crude futures LCOc1 were up 12 cents at $63.51 a barrel by 1127 GMT. West Texas Intermediate (WTI) crude CLc1 was flat at $57.80.
“It is still all about trade talks,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “It seems to be dominating markets action at the moment.”
A move by China to protect intellectual property was also