Latest Oil Market News and Analysis for Nov. 25

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Oil steadied as investors tracked a risk-on mood in wider financial markets, which countered the impact of progress in peace talks over Ukraine that could pave the way for increased crude supplies.
West Texas Intermediate held near $59 a barrel after rising by more than 1% on Monday, while Brent closed above $63. Equities and most commodities rose on Monday on the outlook for further rate cuts from the Federal Reserve. Adding to the upbeat mood, US President Donald Trump and Chinese counterpart Xi Jinping held their first talks since agreeing to a tariff truce last month.