Oil prices rose after Trump said China agreed to buy U.S. crude. Beijing had not confirmed the purchases or responded to CNBC requests. Markets also tracked efforts to keep the Strait of Hormuz open. The Sea Voyager crude oil tanker anchored off the Port of Long Beach in Long Beach, California, US, on Thursday, May 7, 2026. Tim Rue | Bloomberg | Getty Images
Oil prices rose Friday after U.S. President Donald Trump said China has agreed to purchase oil from America, following talks with Chinese leader
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