Oil firms rise ahead of US-China trade talks

S&P 500 energy index .SPNY rises 1%, tracking a rise in oil prices O/R

Brent crude futures LCOc1 up 0.7% at $63.28/barrel; U.S. West Texas Intermediate crude futures CLc1 up 0.6% at $60.29/barrel

Both benchmarks on track to rise more than 4% for the week

Oil prices poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing

U.S. Treasury Secretary Scott Bessent will meet China's top economic official Vice Premier He Lifeng in Switzerland on Saturday to work towards resolving trade disputes

Oil and gas majors Exxon Mobil XOM.N up marginally and Chevron CVX.N up ~1%

Diamondback Energy FANG.O, Expand Energy EXE.O, EQT Corp EQT.N and APA Corp APA.O up between 1.6% and 2.8%; among the top percentage gainers on the energy index

Oilfield services companies Baker Hughes BKR.O and Liberty Energy LBRT.N up ~1% and 1.3%, respectively

Refiner PBF Energy up 2.1%