Both US President Trump and China President Xi Jinping have expressed their desire last week to sign an initial trade deal.
Oil prices began the week on a brighter note on Monday, posting early gains as positive noises from Washington over the weekend rekindled optimism in global markets that the United States and China could soon sign a deal to end their bitter trade war.
“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.” At CMC Markets, strategist McCarthy noted that a move by China to protect intellectual property was also providing a supportive atmosphere for the trade talks.
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