Oil Futures Advance as China Signals It’s Open to US Trade Talks

Oil rose on the prospect of a de-escalation in the trade war between the world’s two largest economies and a stall in nuclear talks between the US and Iran.

West Texas Intermediate futures added 1.9% to settle near $62.50 a barrel, the third gain in the four past sessions, after China signaled openness to trade negotiations with the Trump administration. Pre-conditions for the talks would include a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan, according to a person familiar with the Chinese government’s thinking.