The first day of trading after President Trump and Xi Jinping agreed to resume formal trade talks also saw a rally in metals and grains, in tandem with stocks, emerging-market currencies and other riskier investments. Thanks to China’s voracious appetite for raw materials, commodities were hurt more than most other assets by the breakdown of the previous round of discussions in early May. President Trump’s threat to impose tariffs on $300 billion worth of Chinese goods not yet subject to levies, now put on pause, had added to the pressure. Brent crude, the global price gauge, advanced 2.6% to $66.42 a barrel while the U.S. benchmark rose 2.7% to $60.02. OPEC and its Russia-led partners are likely to extend their production cuts by nine months when they meet in Vienna on Monday and Tuesday, Saudi Energy Minister Khalid al-Falih said over the weekend. “The fact they’re trying to make […]