Oil prices rebounded on Monday after hitting five-month lows, as hopes of potential US-China talks eased market concerns. Brent crude rose 1.47 per cent to $63.65 a barrel, while US West Texas Intermediate (WTI) climbed 1.51 per cent to $59.79. Both benchmarks had fallen sharply on Friday, with Brent down 3.82 per cent and WTI 4.24 per cent, marking their lowest levels since May 7. Analysts attributed Monday's gains to profit-taking and optimism that tariffs imposed by the US on Chinese exports could be part of a negotiation strategy ahead of a possible Trump-Xi meeting at the Asia-Pacific Economic Cooperation forum. Goldman Sachs noted that a likely outcome is a pullback from aggressive policies and an extension of the May tariff pause, though trade tensions could still escalate temporarily. China's crude imports rose 3.9 per cent in September to 11.5 million barrels per day as refineries operated at high capacity and continued stockpiling. Market volatility is expected to persist amid ongoing geopolitical and trade developments. Attribution: Reuters Subediting: Y.Yasser
