Mumbai, April 28 -- Crude oil futures rose toward $63 per barrel on Monday, lifted by hopes of easing US-China trade tensions after Trump softened his stance and Beijing rolled back some tariffs. Still, gains were tempered by progress in US-Iran nuclear talks, raising the risk of more Iranian oil exports, and expectations of another OPEC+ production boost. Meanwhile, the dollar index edged above 99.5, extending last week's rally as investors braced for crucial US economic data, including Q1 GDP, the April jobs report, and PCE inflation. Hints of economic weakness could fuel bets on Fed rate cuts. The dollar found support after Trump eased tariff threats and backed Fed Chair Powell, strengthening broadly across major currencies.
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