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Oil Prices Rise on Hopes of U.S. Trade Deals

OilPrice.com Thursday, 8 May 2025 ()
Oil prices rose by more than 1% early on Thursday as the market expects a U.S.-UK trade deal announcement later today and the start of U.S.-China ice-breaker talks later this week. As of 8:35 a.m. EDT on Thursday, the U.S. benchmark, WTI Crude, was up by 1.89% at $59.15. The international benchmark, Brent Crude, was trading 1.62% higher at $62.12 per barrel. Oil and equity markets were buoyed on Thursday by the announcement from U.S. President Donald Trump that the United States would sign the first post-tariff trade deal with the United Kingdom.…
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Video Credit: Oneindia - Published
News video: Trump Prepares HUGE Trade Tariff Deal Reveal With UK, UK Pact To Hit China And Europe Hard

Trump Prepares HUGE Trade Tariff Deal Reveal With UK, UK Pact To Hit China And Europe Hard 03:12

President Trump is set to announce a major trade deal with a “highly respected” nation—confirmed by insiders to be the UK. The deal may include U.S. tariff cuts on British steel, autos, and aluminum in exchange for the UK scrapping its digital services tax. Trump teased the agreement on social...

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