India, May 12 -- Oil prices were up nearly 3 percent on Monday after China and the U.S. touted "substantial progress" on their trade talks.
Benchmark Brent crude futures were up 2.7 percent at $65.65 a barrel in early European trade while WTI crude futures jumped 2.9 percent to $62.76.
Both contracts rose over 4 percent last week, marking their first weekly rise since mid-April.
Helping ease concerns about demand in the world's two biggest oil-consuming nations, the United States and China have taken a step toward easing their strained trade relationship.
Issuing a joint statement from Geneva on trade talks, both nations have announced a temporary rollback of trade levies for an initial 90-day period.
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