LONDON (Reuters) -U.S.-China trade talks were set to extend to a second day in London as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths,

Oil prices rose to a seven-week high on Wednesday as markets assessed the outcome of U.S.-China trade negotiations, while pessimism over U.S.-Iran nuclear talks also provided support. Brent crude futures were up 82 cents,

Officials from the U.S. and China are meeting in London this week to iron out details of a deal that would lower Donald Trump’s levies on imports.