London CNN Business  — 

1. Tencent’s gaming win: Tencent can finally make money off new video games again.

US futures added 0.3% to trade at $62.70 per barrel, pushing gains for this year to 38%. Brent crude, the international benchmark, was up 0.8% to just under $70 per barrel.

“With output falling for a fourth month thanks to continued OPEC production cuts and sanction on Iran and Venezuela, oil prices are well supported,” said Fiona Cincotta, analyst at City Index, a broker.

Recent positive manufacturing news from China has also eased fears of a dramatic slowdown in the world’s second largest economy. Weak growth in China would have reduced demand for oil.

The US Energy Information Administration will release a report on crude inventories at 10:30 a.m. ET.

2. Trade talks: Sensitive trade negotiations between the United States and China are set to resume on Wednesday.

China’s Vice Premier Liu He is traveling to Washington with a delegation of trade negotiators just days after another set of discussions wrapped up in Beijing.

There have been positive signs about a potential deal in recent days.

China said this week that it would add fentanyl-related substances to its list of controlled drugs from May 1, fulfilling a pledge that Chinese President Xi Jinping had made to US President Donald Trump.

3. Brexit chaos: The British pound has rallied after Prime Minister Theresa May said she would implement any Brexit deal that was agreed by a majority in the UK parliament.

May also said she would ask the European Union for another short extension to Brexit, and work with opposition leader Jeremy Corbyn to find a compromise.

The pound increased 0.4% against the dollar on Wednesday to trade at $1.31.

The political situation in the United Kingdom remains highly uncertain. It’s not clear whether the European Union will grant a short extension to Brexit, and there’s still no consensus in Britain on how to exit the bloc.

The bidding war for Anadarko reflects an intense desire by US oil companies to acquire America’s best shale assets. Occidental is already the No. 1 oil producer in the vast Permian Basin.

Analysts were scratching their heads trying to find a reason for the spike.

Nigel Green, founder and chief executive of wealth management firm deVere Group, said in a report that “there is a growing sense that Bitcoin is back.”

Green added that “this dramatic jump is likely to attract many investors who have been sitting on the sidelines,” including big institutions.

5. Global market overview: US stock futures were pointing lower.

European markets opened mostly higher, following a positive trading session in Asia.

The Dow Jones industrial average closed 1.3% higher on Monday, the index’s highest close since October. The S&P 500 added 1.2% and the Nasdaq gained 1.3%.

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5. Earnings and economics: Colgate-Palmolive (CL) is set to release earnings before the open Friday.

Shares of Walgreens (WBA) dropped 12.8% after the drug store giant reported earnings and sales that missed forecasts.

Shares in fashion retailer Superdry plunged almost 12% in London after co-founder Julian Dunkerton won his bid to rejoin the company as a director, prompting the board to quit.

6. Coming this week: