Oil prices continued their gains yesterday, hitting three-month highs as the United States and China approached a solution to the 18-month-old trade dispute between the world's two largest economies, which raised big questions about global demand for crude.
Brent crude futures were up 47 cents, or 0.7%, to $ 64.67 a barrel, the highest level since September 23.
WTI rose 34 cents, or 0.6%, to $ 59.52 a barrel, the strongest price since September 16.
"The appetite for risk has opened up ambitiously after Trump hinted that he has entered into an agreement with China, which would be completely positive for the outlook for global demand for crude," said Edward Moya, chief market analyst at Oanda.
Margaret Yang, a market analyst at CMC Markets, added that "a decline in the US dollar on the back of a strong rise in the pound sterling also helped to boost commodity prices."