Oil prices edged higher on Monday following a trade agreement between the United States and the European Union, which set a 15 percent tariff on most European goods and helped avert a larger trade conflict. The deal, along with ongoing talks between the United States and China to extend a tariff truce, has boosted market optimism and eased concerns over global economic activity and fuel demand. Despite the uptick, gains were tempered by expectations that the Organization of the Petroleum Exporting Countries and its allies would maintain current oil supply policies, with only gradual increases in output anticipated. Meanwhile, developments in Venezuela and ongoing tensions in the Middle East continue to influence the broader energy market.