OIL PRICE: NEAR $58
REUTERS - Oil prices jumped by more than 1 percent on Monday, pushed up by optimism that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude.
Brent crude futures LCOc1 were at $57.86 per barrel at 0538 GMT, up 80 cents, or 1.4 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.77 per barrel, up 81 cents, or 1.7 percent.
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