Singapore — Oil prices rose on Monday as supply tightened amid output cuts by producer club Opec and as the US and China were reported to be close to signing a trade deal that would end a tariff row that has slowed global economic growth. International Brent futures were at $65.39 a barrel at 4.16am GMT, up 32c, or 0.5%, from their last close. US West Texas Intermediate (WTI) crude futures were at $56.08 a barrel, up 28c, or 0.5%. The rally came on reports that the US and China are close to ending their trade disputes, which have weighed on global economic growth. US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday. The news added support to a market that has been rallying for the past two months on cuts to production. Supply from Opec fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia ...
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