Oil Prices Extend Gains as Trump Says China Wants to Buy U.S. Crude

Oil prices extended gains on Friday as traders reacted to comments from U.S. President Donald Trump that China wants to buy crude from the United States, adding a fresh macro and geopolitical layer to already volatile energy markets. Reuters reported that the White House said Chinese President Xi Jinping had expressed interest in purchasing more U.S. oil, a statement that helped support crude benchmarks in early trading. Brent and West Texas Intermediate both moved higher as investors assessed whether the comments could signal a partial easing in energy trade tensions between the world’s two largest economies. The move comes at a time when the oil market is already sensitive to developments in the Middle East, shipping security and the pace of global demand growth. The latest gains followed a period of choppy trading in which markets were pulled between supply risks and broader economic caution. Reuters noted that oil prices had been under pressure in recent sessions as investors monitored ceasefire uncertainty and policy signals, but the fresh comments on China’s interest in U.S. crude shifted sentiment back toward bullish territory. For traders, the importance of the China…