Oil up 1% as hopes grow for U.S.-China trade breakthrough

LONDON (Reuters) - Oil prices rose more than 1% on Tuesday after U.S. President Donald Trump predicted a trade deal with China following positive comments by Beijing, calming concerns raised by an earlier round of tit-for-tat tariff hikes.Brent crude was up 61 cents, or 1.04%, at $59.31 a barrel by 1405 GMT. U.S. West Texas Intermediate crude futures were up 70 cents, or 1.3%, at $54.34.Trump said on Monday that he believed China was sincere about wanting to reach a deal, while Chinese Vice..