SYDNEY: As the United States and China gear up for signing a trade deal, oil prices firmed on Monday, ending a tit-for-tat tariff row that has roiled financial markets across the globe.
International Brent futures were at $65.25 a barrel at 0022 GMT, up 0.3 percent, from their last close. Brent fell 1.5 percent on Friday.
U.S. West Texas Intermediate (WTI) crude futures were at $56.05 per barrel, up 0.5 percent. WTI futures fell 2.5 percent on Friday.
The rally came as signs that the United States and China will finally ink a trade deal eased fears about global demand growth.
Given the progress in talks between the two countries, US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit around March 27, the Wall Street Journal reported on Sunday.
(Agencies)