Oil prices headed for rebound this week as Trump and Xi resume trade talks

Oil prices headed for rebound this week as Trump and Xi resume trade talks

Oil prices continue to swing amid news on tariff negotiations and data showing how trade uncertainty and the impact of the U.S. levies are flowing through into the global economy.

Oil prices slipped on Friday but were on track for their first weekly gain in three weeks after U.S. President Donald Trump and Chinese leader Xi Jinping resumed trade talks , raising hopes for growth and stronger demand in the world’s two largest economies.

Brent crude futures fell 28 cents, or 0.4 per cent, to $65.06 a barrel at 5:14 a.m. ET. U.S. West Texas Intermediate crude lost 36 cents, or 0.6 per cent, to $63.01.

On a weekly basis, both benchmarks were on track to settle higher after falling for two straight weeks. Brent has