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Oil held firm in early Asian trading on Monday. following its biggest weekly gain in more than a month. as supplies tightened and the White House signaled progress on U.S.-China trade talks.
Brent futures were little changed. after rising 0.6% on Friday after the U.S. said it was close to finalizing the first phase of a trade deal with China. while Beijing said parts of the text for that agreement are “basically completed.“ Positive signs on the trade front combined with evidence of tightening U.S. crude stockpiles to drive a 4.4% gain in the Brent crude benchmark last week.
