HONG KONG, May 12 — Oil prices rocketed more than three per cent Monday after China and the United States agreed to suspend sweeping mutual tariffs and look to dial down a painful trade war between the economic superpowers.

West Texas Intermediate jumped 3.6 per cent to US$63.24 (RM272) and Brent climbed 3.4 perccent to US$66.11 on hopes a pullback in tensions will support the global economy and boost demand for the commodity. — AFP