Oil returns to the rise .. the first weekly gains in 3 weeks!

Brent crude futures increased $ 2.11 or 3.2 percent to $ 67.96 a barrel upon settlement, and US West Texas Intermediate crude rose $ 2.21 or 3.54 percent to $ 64.68 a barrel, according to Reuters data.

The two crudes rose by about five percent during the week to achieve the first weekly height in three weeks. Today, Thursday is the last day of the week before the Easter holiday.

US President Donald Trump and Italian Prime Minister Georgeta Meloni expressed their optimism about the settlement of trade tension, which negatively affected US -European relations.

“We will not encounter any problem mentioning a deal with Europe or any other party, because we have what everyone wants,” Trump said.

Bob Yoger, director of future energy contracts in Mezoho, said that reaching a trade deal with the European Union may limit the impact of Trump customs duties on the demand.

The administration of US President Donald Trump issued new sanctions targeting Iranian oil exports yesterday, Wednesday, including a small independent oil refinery based in China, which increases pressure on Tehran amid talks on its nuclear program.

“Those very diversified sanctions focus on small ranks in China … this is a possible shortage of supplies from the market,” said John Keldaf, partner in Agein Capital. (Sky News)