Ammon News - Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on U.S.-China trade talks and signs of lower U.S. production.

Brent crude futures gained 44 cents a barrel, or 0.7%, to $62.59 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude was up 50 cents, or 0.9%, at $59.59 a barrel.

Both benchmarks plunged to a four-year low recently after OPEC+'s decision to speed up output increases, stoking fears of oversupply at a time when U.S. tariffs have increased concerns about demand.

"News that the U.S. and China will start trade talks this weekend has Brent crude trading higher, extending a relief rally in oil," said commodities strategists at ING on Wednesday. Reuters