WASHINGTON (dpa-AFX) - Oil held a gain on Tuesday, with renewed geopolitical tensions and investor optimism around U.S. trade negotiations offering some support.
Benchmark Brent crude futures climbed 0.7 percent to $69.78 a barrel in European trade while WTI crude futures were up 0.7 percent at $67.19.
Both contracts jumped over 2 percent on Monday, with Brent hitting its highest level since July 18, as a U.S.-EU tariff pact helped ease worries of a trade war.
The European Union dodged an imminent trade war with the U.S., but several EU leaders described the agreement as 'unbalanced' and 'asymmetric'.
The focus has now shifted to the U.S.-China talks in Sweden aimed at extending a temporary tariff truce.
Elsewhere, U.S. President Donald Trump has called on Russia to stop its attacks in Ukraine in less than two weeks or face new sanctions and tariffs.
Trump set a new deadline on Monday of '10 or 12 days' for Russia to make peace of face sanctions.
He has threatened sanctions on both Russia and buyers of its exports, including energy, unless progress is made.
'There's no reason to wait. If you know what the answer is,' Trump said, voicing frustration at Russian President Putin's repeated rejection of his calls for a truce.
'Russia will respond very diplomatically' and point out that 'setting specific deadlines does not, by itself, encourage the negotiation process,' Sergei Markov, a Moscow-based political consultant close to the Kremlin, said.
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