Oil prices pushed higher for a second day on Wednesday, buoyed by sanctions-related supply risks, hopes of a U.S.-China trade deal and news that the U.S. is seeking oil for delivery to its strategic reserves.

Brent crude futures rose 18 cents, or 0.29%, to $61.50 a barrel as of 0137 GMT, while U.S. West Texas Intermediate crude futures climbed 21 cents, or 0.37%, to $57.45.

Oil has bounced off a five-month low hit on Monday that was fuelled by producers pumping more and trade tensions impacting demand.

Supply risks arose from news that a planned summit between U.S. President Donald Trump and Russian President Vladimir Putin was put on hold and supply-disruption fears fueled by Western pressure on Asian buying of Russian oil.

”Despite the overall bearish sentiment driven by an oil s

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