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Prices Inch Higher on Trump Trade Deal Hopes

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Traders weighed rising Opec-plus supply against improving oil demand prospects. US and Chinese officials are due to meet in Switzerland this weekend, taking a first step toward resolving the bitter trade war between the world's two largest economies. Global benchmark Brent had dipped below $60 per barrel Monday after Opec-plus decided to add another 411,000 barrels per day of supply from June but has been firming since. The Geneva meeting comes after Washington announced its first post-"Liberation Day" free trade deal with the UK. That deal could boost US ethanol sales to the UK and, in return, lowers US import charges for UK-made steel, aluminum and automotives. Brent ended the week at $62.84/bbl for a still modest gain of 71¢/bbl, while US price-pin West Texas Intermediate finished up 67¢/bbl at $59.91/bbl.

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Jet Fuel, Oil Spot Markets, Oil Prices, Oil Trade
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