Oil prices rose by more than 1.5 percent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude. A rainbow is seen over a pumpjack during sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann Brent crude futures LCOc1 were at $58.04 per barrel at 0751 GMT, up 98 cents, or 1.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.85 per barrel, up 89 cents, or 1.9 percent. Financial markets were riding a relief rally on Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, starting on Monday, would lead to an easing in tensions between the two biggest economies in the world. The United States and Beijing have been locked in […]