Crude futures settle higher

Oil prices inched up on Monday.

The West Texas Intermediate for September delivery gained 8 cents, or 0.13 percent, to settle at 63.96 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery went up 4 cents, or 0.06 percent, to settle at 66.63 dollars a barrel on the London ICE Futures Exchange.

President of the Republic of Korea (ROK) Lee Jae Myung has expressed his hope that his upcoming visit to China will help eliminate past misunderstandings and issues, underscoring the importance of ties between the two countries.

At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office.

In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee acknowledged the existing misunderstandings and issues between the two countries, noting that addressing these issues is a key goal of his visit.

"The current international landscape is turbulent, with escalating issues among various countries. In this context, the relationship between the Republic of Korea and China holds significant importance for us. the ROK and China are deeply interconnected in many areas, including history, economy, geopolitics, politics and security. Northeast Asia's peace, stability, mutual respect, and common prosperity are crucial for both countries," said Lee.

"Admittedly, there have been some misunderstandings and issues between the ROK and China, which have hindered the development of bilateral relations to some extent. Therefore, the purpose of my upcoming visit to China is to minimize or eliminate these past issues, foster a leap in our bilateral relations to a new level, and solidify the ROK and China as partners that mutually support each other's development," he said.