Oil futures added to last week’s gains as the U.S. and China agreed to slash tariffs for 90 days, but settle off the day’s highs as talks on Iran’s nuclear program and the Russia-Ukraine war keep open the possibility of sanctions eventually being lifted.

but without a deal prices could rise to over US$70, they added. US sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter ...