Crude oil prices gained as OPEC-led supply cuts and U.S. sanctions against Venezuela provided the market with support. Output declines from the Organization of the Petroleum Exporting Countries (OPEC) as they make good on their pact to curb a supply overhang were compounded by falling U.S. oil rig counts and sanctions on Venezuelan oil sales.

Bullion prices remained under pressure as risk aversion waned amid some signs of progress in U.S.-China trade talks, while a firm dollar kept bullion under pressure.

Crude oil prices gained as OPEC-led supply cuts and U.S. sanctions against Venezuela provided the market with support. Output declines from the Organization of the Petroleum Exporting Countries (OPEC) as they make good on their pact to curb a supply overhang were compounded by falling U.S. oil rig counts and sanctions on Venezuelan oil sales.

Bullion prices remained under pressure as risk aversion waned amid some signs of progress in U.S.-China trade talks, while a firm dollar kept bullion under pressure.