A new round of talks aimed at resolving a trade war between the US and China is set take place in London on Monday. US President Donald Trump announced on Friday that a senior US delegation would meet Chinese representatives.

U.S.-China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs.

Oil prices held on to last week's gains early on Monday as investors waited for U.S.-China trade talks to be held in London later in the day.