Pakistan, May 11 -- NEW YORK - Oil prices posted solid weekly gains, rising nearly 2% on Friday, as investor confidence grew over potential progress in US-China trade negotiations and a recent deal with the United Kingdom.

Brent crude settled at $63.91 per barrel after climbing $1.07, while US West Texas Intermediate (WTI) gained $1.11 to finish at $61.02. Both benchmarks rose over 4% for the week, marking their first weekly increase since mid-April.

Investor sentiment improved after US President Donald Trump announced a deal with the UK lowering tariffs on cars and steel. He also hinted at adjusting China's tariffs, which are currently at 145%, suggesting that an 80% rate "seems right."

These developments boosted hopes for progress in...