Oil rebounds above $60 as Trump eases trade tensions

WTI crude oil futures climbed over 1% to trade near $60 per barrel on Monday, bouncing back from a five-month low as renewed optimism over US-China relations lifted market sentiment. MCX October delivery crude oil futures also rose 1% to ₹5300 per barrel, tracking global gains. The rebound came after President Donald Trump struck a conciliatory tone toward Beijing, saying the US wants to help China, just days after threatening new 100% tariffs on Chinese goods starting November 1. On the geopolitical front, Trump declared that the war in Gaza was over as he headed to the Middle East to address the Israeli Knesset and co-chair a summit in Egypt on the ceasefire deal between Israel and Hamas, adding to the overall risk-on sentiment in energy markets.

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