Oil prices rose in Monday trading after the U.S. reached a trade agreement with the European Union and amid the possibility of extending the suspension of tariffs with China — easing concerns that high potential tariffs might restrict economic activity and reduce fuel demand.
Brent crude futures rose by 0.5% to $68.78 per barrel, while West Texas Intermediate (WTI) crude increased by 0.4% to $65.43 per barrel.
The preliminary trade agreement between the United States and the European Union, along with the potential extension of the tariff truce between Washington and Beijing, contributed to bolstering global financial markets and oil prices.
Source (CNBC Arabia Website, Edited)
