India, July 25 -- Oil prices traded higher on Friday, adding to the previous session's sharp gains, buoyed by hopes for more trade deals ahead of U.S. President Donald Trump's August 1 deadline for new tariffs on goods from an array of countries.
Benchmark Brent crude futures rose 0.4 percent to $69.46 a barrel in European trade, with reports about potential higher Venezuelan supply limiting the upside. WTI crude futures were up 0.4 percent at $66.29.
Both contracts jumped over 1 percent on Thursday after the release of bullish inventory data.
There is increased optimism surrounding a potential trade agreement between the U.S. and the European Union after EU diplomats suggested the U.S. had proposed a broad 15 percent tariff on most Euro...