WTI crude oil futures rose more than 1% to $59.8 per barrel on Monday, rebounding from a five-month low reached last Friday, after US President Donald Trump struck a conciliatory tone toward China two days after threatening new tariffs. Trump on Sunday sought to calm trade tensions with China, saying Washington wants to help Beijing and not hurt it. His remarks came after he threatened to impose an additional 100% tariff on Chinese goods starting November 1, a move that had reignited fears of an escalating trade war that could weigh on global economic growth and energy demand. On the geopolitical front, Trump also declared on Sunday that the war in Gaza is over as he heads to Israel, ahead of the expected release of Israeli hostages and Palestinian prisoners and a scheduled address by Trump to Israel’s parliament.
