BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) edged higher in early trading on Monday as oil prices rebounded after a mildly schizophrenic week.
Brent crude for May delivery rose above $67 a barrel, making for a 2% rise since Friday's open.
Traders are effectively betting on progress in US-China trade talks and China's efforts that boost its economy, and by extension, increase demand for crude.
Oil markets have been under pressure from fears that the trade war could hit global growth and energy demand, with Brent off 12% year-to-date and down 8% in the past month, mirroring concerns about the impact of President Trump's tariff assault.
At the same time, OPEC+ will meet next week to decide on output levels, with rising supply adding to bearish sentiment.
In early trading, Shell was ahead 1.75%, while BP nudged up 0.75%. Both unveil first-quarter results later this week.