Oil Prices Hold Firm on Trade Talk Optimism

Crude oil futures ended the week higher, buoyed by renewed optimism around U.S.-China trade talks and signs of tightening inventories. West Texas Intermediate (WTI) settled near $59.91, marking a 2.78% weekly gain after rebounding sharply from multi-year lows earlier in the week. Bargain buying and improved sentiment supported prices despite strong macroeconomic and supply-driven headwinds. Trade Talks and Risk Sentiment Offer Limited Relief The upcoming May 10 trade negotiations between U.S. Treasury Secretary Scott Bessent and China’s top…