Oil recoups some losses from US-China tensions

Oil prices rose on Monday after hitting five-month lows in the previous session, as investors hoped potential talks between the presidents of the US and China could ease trade tensions between the world's two largest economies and oil consumers. Brent crude futures climbed 92 cents, or 1.47%, to $63.65 a barrel by 0408 GMT after settling down 3.82% on Friday to the lowest since May 7. US West Texas Intermediate crude was at $59.79 a barrel, up 89 cents, or 1.51%, following a 4.24% loss to reach its lowest since May 7. WTI prices will settle on Tuesday as Monday is a public holiday in the US. "The rebound in oil markets has likely been caused by profit-taking as traders...