TOKYO: Oil prices climbed on Wednesday, extending sharp gains from the previous session on rekindled hopes for a U.S.-China trade deal and on continued tensions in the Middle East after tanker attacks there last week.
That comes after talks to reach a broad deal on trade between the United States and China broke down last month after Washington accused the Chinese of backing away from previously agreed commitments. Fears of a confrontation between Iran and the United States have mounted since last Thursday's oil tanker attacks, which Washington has blamed on Tehran. Iran has denied involvement.
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