New Delhi, May 10 -- Oil prices settled nearly 2% higher on Friday and notched their first weekly gains since mid-April as a U.S. trade deal with the United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing.

Brent crude futures rose $1.07, or 1.7%, to settle at $63.91 a barrel, while U.S. West Texas Intermediate crude futures advanced $1.11, or about 1.9%, to settle at $61.02.

Week-over-week, both benchmarks gained over 4%.

U.S. President Donald Trump on Friday said China should open its market to the U.S., and that an 80% tariff on Chinese goods "seems right," a day after he announced a deal lowering tariffs on British car and steel exports, among other agreements with the United King...