President Trump and Chinese leader Xi Jinping spoke on Thursday, with tariff and trade talks set to resume next week. Trump said Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet with Chinese counterparts in London on Monday.

Oil prices settled higher on Thursday, recovering from the previous day's drop, on news that the U.S. and China agreed to more trade talks following a phone call between U.S. President Donald Trump and Chinese leader Xi Jinping.

US President Donald Trump announced Friday a new round of trade talks with China in London next week, a day after calling Chinese counterpart Xi Jinping in a bid to end a bitter battle over tariffs.While Trump's long-awaited phone call with Xi this week likely paved the way for further high-level trade talks,