WASHINGTON (dpa-AFX) - Oil prices rose toward $69 a barrel on Friday, snapping a two-day losing streak after U.S. President Donald Trump said that there is a 'good possibility' of including Huawei in a trade deal to end a trade dispute with Beijing.
Benchmark Brent crude rose over 1 percent to $68.47 a barrel, but remained on track for a decline of over 5 percent for the week.
U.S. West Texas Intermediate crude futures were up 1.1 percent at $58.55.
Oil prices are moving up on bargain hunting and short-covering after seeing their biggest single-session decline in 2019 and closing at a more than 2-month low on Thursday amid concerns of an economic slowdown and surging U.S. crude inventories.
Analysts expect gains to be short-lived amid heightened trade tensions between the world's two largest economies.
Trump said Huawei could be part of a U.S.-China trade deal, but branded the telecoms firm 'very dangerous'.
'You look at what they've done from a security standpoint, a military standpoint. Very dangerous,' Trump told reporters at the White House on Thursday.
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