U.S. oil prices rose on Monday on upbeat mood with developments of ongoing trade disputes between the United States and China as well as likely drop of crude oil output in Iran due to sanctions by the United States.
The West Texas Intermediate (WTI) for September delivery posted gains for the third consecutive day rising 0.52 U.S. dollar to settle at 66.43 dollars a barrel on the New York Mercantile Exchange.
The rebound of international oil prices largely reflects eased concerns over world economic growth overshadowed by tension between the Untied States and other major trading partners.
The United States and China are expected to resume bilateral talks in the coming days, according to reports.
Meanwhile, Brent oil prices for delivery in October also gained 0.39 percent, reaching 72.11 U.S. dollars per barrel as of 6:26 P.M. (GMT).
The West Texas Intermediate (WTI) for September delivery posted gains for the third consecutive day rising 0.52 U.S. dollar to settle at 66.43 dollars a barrel on the New York Mercantile Exchange.
The rebound of international oil prices largely reflects eased concerns over world economic growth overshadowed by tension between the Untied States and other major trading partners.
The United States and China are expected to resume bilateral talks in the coming days, according to reports.
Meanwhile, Brent oil prices for delivery in October also gained 0.39 percent, reaching 72.11 U.S. dollars per barrel as of 6:26 P.M. (GMT).
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