25.02.201905:47:00UTC+00Oil Prices Rise Despite Record US Exports

Oil prices rose on Monday after settling at their highest level since mid-November on Friday.

With U.S.-China trade negotiations progressing very well, investors seemed to have put worries about slowing growth and rising U.S. output on the back burner.

Global benchmark Brent crude rose 0.3 percent to $67.42 a barrel after reaching their highest level since Nov. 16 at $67.73 a barrel in intra-day trading on Friday.

U.S. West Texas Intermediate (WTI) crude futures were up 0.3 percent at $57.42 per barrel, after having marked their highest level since Nov. 16 at $57.81 a barrel on Friday.

Citing substantial progress in ongoing trade talks, U.S. President Donald Trump said on Sunday he would delay an increase in U.S. tariffs on Chinese goods.

Trump also indicated that he plans to meet his Chinese counterpart Xi Jinping to reach a final deal, if progress continued.