London: On Friday, oil prices grew and were on track for a weekly rise as geopolitical tensions over Iran stayed unresolved, although flagging opportunities for worldwide economic growth capped gains in the US-China trade war. Brent crude futures increased by 16 cents at $63.55 per barrel at 0834 GMT, corresponding to a weekly increase of about 1.7%. Last week, they dropped 6 percent.
After coming close to a prospective arrangement, trade talks between the two nations broke down in May. For the first moment since then, top negotiators from the US and China will meet next week. It is anticipated that any beneficial result from the conference will increase oil prices.
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