Oil prices rise after US and China reach trade-deal framework

Core Viewpoint - Oil prices increased in early trading on Monday due to a trade-deal framework outlined by U.S. and Chinese economic officials, which alleviated concerns about potential tariffs and export restrictions impacting global economic growth [1] Group 1: Economic Impact - The trade-deal framework between the U.S. and China is seen as a positive development for the oil market, as both countries are the largest consumers of oil globally [1] - Easing of fears regarding tariffs and export curbs is expected to support global economic growth, which is crucial for oil demand [1] Group 2: Market Reaction - The rise in oil prices reflects market optimism following the announcement of the trade-deal framework [1] - The initial trading response indicates a potential stabilization in oil markets amid ongoing trade negotiations between the two economic giants [1]