Oil prices slipped on Monday, but held near recent three-month highs amid optimism that the United States and China are close to signing a trade deal, with President Donald Trump saying an agreement would be signed "very shortly".
Brent crude was down 15 cents, or 0.2%, at $65.99 a barrel by 0306 GMT. West Texas Intermediate was also down 15 cents at $60.29 a barrel.
A so-called phase one deal was announced earlier in December as part of a bid to end the months-long tit-for-tat trade war between the world's two largest economies, which has sent shockwaves through markets and roiled global growth.
The United States is to agree to reduce some tariffs in return for a big increase in purchases by Chinese importers of American farm products, according to the deal that is due to be signed in January.
"We just achieved a breakthrough on the trade deal and we will be signing it very shortly," Trump said at a Turning Point USA event in Florida on Saturday.
The easing of tensions has improved business confidence and boosted the outlook for economic growth and energy demand.
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