Oil extended gains on Tuesday, lifted by hopes of improved economic activity after the U.S.-EU trade deal, a potential U.S.-China tariff truce and President Donald Trump's shorter deadline for Russia to end the Ukraine war.

China’s high dependence on exports will likely be a key focus of a new round of U.S.-China trade talks this coming week in Stockholm, but a trade deal would not necessarily help Beijing to rebalance its economy.

In response to a question from a Bloomberg reporter that the Financial Times reported earlier today the US has frozen new export control measures on Chinese entities as a goodwill gesture ahead of trade talks,

U.S. senators from both major parties plan to introduce bills this week targeting China over its treatment of minority groups, dissidents and Taiwan, emphasizing security and human rights as President Donald Trump focuses on trade with Beijing.

US and Chinese economic officials convened in Stockholm for extensive talks aimed at resolving deep-rooted trade disputes. The negotiations targeted extending a truce amid looming deadlines, with significant emphasis on the flow of critical minerals and balanced trade.

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It is legal to assign a non-market economy, country-wide antidumping rate to a China-based multilayered wood flooring exporter, the Federal Circuit ruled.