Oil rises by 4% on news of US-China trade truce ahead of Opec meeting

Oil prices climbed by around 4 per cent on Monday after the United States and China agreed a truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut. US West Texas Intermediate (WTI) crude futures were at $53 per barrel at 0125 GMT, up $2.07 per barrel, or 4.1 per cent from their last close.

International Brent crude oil futures were up $2.18 per barrel, or 3.7 per cent, at $61.64 a barrel. China and the United States agreed during the meeting of.....

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