Oil Rebounds As U.S., China Hint At Trade War De-Escalation

Oil prices rose on Monday morning, bouncing back from Friday’s plunge, after both the United States and China signaled de-escalation of the trade spat they had intensified at the end of last week. At 09:09 a.m. EDT on Monday, WTI Crude was up 1.16 percent at $54.80 and Brent Crude was trading up 0.77 percent at $59.25, after the two largest economies in the world sought to appease the trade war escalation from last week.   On Friday, China and the United States traded tariff and counter-tariff announcements, with Beijing saying first…