Oil prices jump after Trump says China agreed to buy U.S. crude following Xi talks

The Sea Voyager crude oil tanker anchored off the Port of Long Beach in Long Beach, California, US, on Thursday, May 7, 2026. Tim Rue | Bloomberg | Getty Images Oil prices rose Friday after U.S. President Donald Trump said China has agreed to purchase oil from America, following talks with Chinese leader Xi Jinping . International benchmark Brent crude futures for July gained 1.49% at $107.30 a barrel. U.S. West Texas Intermediate futures for June advanced 1.55% at $102.74 per barrel. …