Oil prices rose by around 1 percent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.42 per barrel at 0752 GMT, up 64 cents, or 1.3 percent, from their last settlement. International Brent crude futures were up 69 cents, or 1.2 percent, at $59.41 per barrel.