05:10 AM EDT, 05/26/2025 (MT Newswires) -- Crude oil prices rose early Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union.

Brent crude at last look gained 0.7% to US$65.24/barrel and West Texas Intermediate crude rose 0.7% to US$61.95/b.

Trump agreed to extend the deadline until July 9 after European Commission President Ursula von der Leyen said the bloc needed more time to strike a deal, Reuters said in a Monday report.

The news eased concerns about U.S. tariffs on Europe affecting the global economy and weakening fuel demand as a result. Crude oil price movement will be driven by trade and tariff headlines this week, analysts said in the Reuters report.

However, gains were capped by the possibility of the Organization of the Petroleum Exporting Countries and allied producers further will boost output in July. The group is set to make a decision at its June meeting.