Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
Syria's Kurds said Syrian government forces agreed Sunday to help them fend off Turkey's invasion.World Newsread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
U.S. crude posted its best settle in more than a year on Thursday, bolstered by an upbeat market outlook as OPEC-led supply cuts tightened the market and drained inventories.
U.S. West Texas Intermediate crude ended Thursday's session 24 cents higher at $54.54, the best closing level since July 2, 2015. WTI is almost 30 percent above its 2017-low in June.
Benchmark Brent crude was up 9 cents at $60.58 a barrel by 2:10 p.m. ET (1810 GMT). On Wednesday, Brent reached $61.70, its highest intraday level since July 2015. The contract is up more than a third since its 2017-lows in June.
Gains were capped as some investors booked profits, traders said.
Confidence has been fueled by an effort this year lead by the Organization of the Petroleum Exporting Countries and Russia to hold back about 1.8 million barrels per day (bpd) in oil production to tighten markets.
Saudi Arabian Energy Minister Khalid al-Falih said on Thursday supply and demand balances were tightening and oil inventories falling, while compliance with the OPEC-led pact to curb supplies had been "excellent."
"Compliance as a whole for OPEC up being rather strong," said Mark Watkins, regional investment manager at U.S. Bank. "Now that we've flipped the calendar to November we have the OPEC meeting at the end of the month. There's expectation that there will be positive comments about extending the cuts past March."
The pact to withhold supplies runs to March 2018, but there is growing consensus to extend the deal to cover all of next year.
Iraq's oil minister said that OPEC's second-largest producer supports keeping curbs on global oil supply to bolster prices, adding $60 per barrel would be an acceptable target price for his country.
Russian oil output edged up to 10.93 million bpd in October from 10.91 million bpd in September, official data showed on Thursday, but the country remains in compliance with the deal to curb output.
Oil was also supported by falling U.S. commercial crude inventories despite rising output.
U.S. crude oil inventories fell 2.4 million barrels last week despite a 46,000 bpd increase in production to 9.55 million bpd.
Goldman Sachs said it expected year-on-year U.S. oil production growth of 0.8 million to 0.9 million bpd at year-end 2017. That would put end-2017 output at 9.6-9.7 million bpd, only slightly above current levels.
On Thursday the CEO of U.S. independent oil producer Pioneer Natural Resources said it expected to export 2.3 million barrels of oil in the fourth quarter.
The EIA said a record 2.1 million bpd of U.S. crude was exported in the latest week. Traders said this was due to U.S. crude trading at a wide discount to Brent, making exports attractive.
Analysts will be watching Friday's rig count data from U.S. producers said U.S. Bank's Mark Watkins.
"If rig counts didn't increase with oil prices being at a higher level then we may be seeing a high water mark in the U.S. shale production at this time."
— CNBC's Tom DiChristopher contributed to this report.