Oil prices increased, supported by optimism regarding U.S. trade negotiations that could ease pressure on the global economy, along with a sharper-than-expected drop in U.S. crude inventories. Brent crude futures rose by 21 cents, or 0.3 percent, to $68.72 per barrel. U.S. West Texas Intermediate (WTI) crude futures also increased by 22 cents, or 0.3 percent, to $65.47 per barrel.
Markets are closely watching developments in trade talks between the United States and the European Union, following an agreement by President Donald Trump on tariffs with Japan. That deal reduces tariffs on car imports and exempts Tokyo from new tariffs in exchange for a package of American investments and loans totaling $550 billion.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
