Crude oil logs first weekly gain in 3 weeks on US-EU trade talks, Iran sanctions: Brent, WTI up 5%; Should you buy?

Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports, which continued to elevate supply concerns. Brent crude futures settled $2.11, or 3.2%, higher to $67.96 a barrel, and U.S. West Texas Intermediate crude gained $2.21, or 3.54%, at $64.68 a barrel. For the week, both Brent and WTI gained about 5%, their first weekly gain in three weeks. Thursday is the last settlement day of the week ahead of the Easter holidays and trade volumes were…