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The chief executive officer of Saudi Aramco’s trading arm, Ibrahim Al-Buainain, said on Monday at a news conference that the state owned company has fully restored oil production and capacity on September 25th  to the levels they were at before attacks on its facilities on September 14th.  He said oil production was restored to its pre-attack level of about 9.7 million barrels per day or even "a little higher" to replenish inventories.

The U.S. Energy Information Administration said in its monthly report released on Monday that the country’s crude oil output fell 276,000 bpd in July to 11.81 million bpd, its third monthly decline from its record high in April at 12.12 million bpd.

Investors set aside worries about the U.S.-China trade war. Sentiment on Wall Street got an additional boost after White House trade adviser Peter Navarro dismissed reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges as "fake news."