1020 ET - Oil futures press higher amid optimism about a U.S. trade deal with the U.K. and planned talks with China. Prices are back above last week's closing levels before the OPEC+ decision to add another 411,000 barrels to output in June. "It's still very headline-driven," says Neil Crosby of Sparta Commodities. "There's certainly a bit of market hope that the tariff tension is going to lift," while in the oil space it remains to be seen if the OPEC+ agreement means another 400,000 barrels hitting the market from June onward, he says. "There are chronic overproducers anyway, so to a certain extent it's targets versus reality narrowing." WTI is up 2.7% at $59.61 a barrel and Brent is gaining 2.3% to $62.51 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 10:20 ET (14:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.