Oil prices climbed on Friday following a statement from U.S. President Donald Trump, who said China has agreed to purchase American crude oil.
The announcement came after talks with Chinese leader Xi Jinping and was revealed in a pre-recorded interview with Fox News.
Brent crude futures for July rose, reflecting the market's response to the news.
The development introduces a new layer of complexity to the energy sector, particularly as it intersects with broader geopolitical developments in the Middle East.
The potential for increased U.S.-China trade in oil could influence global supply chains and pricing dynamics.
Analysts are watching how this agreement might affect existing tensions, including those related to the Strait of Hormuz, a critical shipping route for oil exports.