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Oil at Highest in a Week on Possible U.S.-China Trade Deal

  • China exploring visit to U.S. for signing ceremony, people say
  • Equity markets advance to records as economic optimism spreads
How One Village on the Volga Sowed Chaos in Europe’s Oil Market
Photographer: Andrey Rudakov/Bloomberg
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Oil closed at a one-week high as investors digested signals that a U.S.-China trade deal is imminent.

Futures advanced rose 0.6% in New York on Monday. Chinese government officials are considering locations in the U.S. where leader Xi Jinping would meet U.S. President Donald Trump to sign a trade accord, people familiar with the plans said. Prices erased some of the session’s gains as doubts crept in about the extent and duration of any truce that may emerge.