Oil Edges Higher With Progress in US Trade Talks in Spotlight

Bloomberg.com · last updated July 22, 2025 – 9:17 PM

Oil edged higher as investors monitored progress on tariff talks between the US and its key trade partners.

Brent rose toward $69 a barrel after a three-day decline, while West Texas Intermediate was near $66 a barrel. President Donald Trump unveiled an agreement with the Philippines setting a 19% tariff and a deal with Japan that sets a 15% rate, fueling a rally in Asian shares and US stock futures.

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