Crude futures extend gains in afternoon trade, lifted by optimism surrounding global trade negotiations. Brent crude is up 1.6% to $62.11 a barrel, while WTI rises 1.9% to $59.18 a barrel. Market sentiment was buoyed by reports of a potential trade deal between the U.

Oil prices ticked higher in early trading supported by optimism over upcoming trade talks between Washington and Beijing. Brent crude rose 0.4% to $61.34 a barrel, while WTI was up 0.5% to $58.34 a barrel.