WASHINGTON (dpa-AFX) - Oil prices held near a seven-week high on Wednesday as markets assess the outcome of U.S.-China trade talks.
Benchmark Brent crude futures roe 0.3 percent to $66.66 a barrel in European trade while WTI crude futures were up 0.3 percent at $65.14.
After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
If approved, the deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
Later in the day, markets will react to the weekly U.S. oil inventories report from the Energy Information Administration.
American Petroleum Institute figures on Tuesday showed that U.S. crude oil inventories fell by 370,000 barrels in the week ending June 6 while analysts had estimated a 700,000-barrel build.
Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al-Ghais has said, speaking at the Global Energy Show in Calgary, Alberta.
Elsewhere, U.S. President Donald Trump told Fox News that Iran has become 'much more aggressive' in nuclear talks.
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