Oil Extends Gains Ahead of US-China Trade Talks


   
Karim Bastati
DTN Analyst

   VIENNA (DTN) -- Oil futures extended gains Friday morning ahead of the first 
official meeting between Chinese and U.S. officials to discuss trade terms. The 
meeting, scheduled for Saturday in Switzerland, sparked hopes of a reversal or 
softening of recently implemented U.S. trade and tariff policies.

   NYMEX-traded WTI for June delivery was up $0.57 bbl to trade near $60.48 
bbl, and ICE Brent for July delivery rose $0.60 bbl to $63.44 bbl.

   June RBOB gasoline futures gained $0.0075 to $2.0929 gallon, while the 
front-month ULSD futures contract was up $0.0093 to $2.0493 gallon.

   The U.S. dollar index softened by 0.520 points to 99.970.

   After two back-to-back weekly losses, oil futures were set for weekly gains 
but remained far below prices two weeks ago. Oversupply concerns in light of 
OPEC+ rapidly ramping up output remained a driving factor for the market, and 
trade negotiations, while sparking economic optimism, are not expected to yield 
quick results.




(c) Copyright 2025 DTN, LLC. All rights reserved.