Oil Pushes Higher With Ukraine Talks and China’s Pledge in Focus

Oil reversed Friday’s decline as US-led talks to end Russia’s war in Ukraine faced new complications and China vowed to support growth next year.

West Texas Intermediate climbed 2.4% to settle above $58 a barrel, while Brent closed near $62. The US has stepped up a push to end the war and President Donald Trump said he made progress in talks on Sunday with Ukrainian counterpart Volodymyr Zelenskiy at Mar-a-Lago. But new sticking points emerged on Monday when Russian President Vladimir Putin said Russia would revise its negotiating position due to a purported drone attack on one of his residences.