Brent crude futures rose 22 cents to $68.66 a barrel, while US West Texas Intermediate crude gained 22 cents to $65.38.
The agreement imposes a 15% tariff on most EU goods, avoiding a larger trade war between the two economic powerhouses.
Meanwhile, Venezuela’s state-run PDVSA is preparing to resume operations under Biden-era licenses if US sanctions are lifted, potentially increasing global supply.
Analysts note that summer demand is helping absorb additional supply, with global oil demand rising by 600,000 bpd in July.
In the Middle East, Yemen’s Houthis warned of targeting ships linked to Israeli ports, adding geopolitical risks that could influence oil markets. - Reuters
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