Singapore: Oil prices rose slightly on Thursday as investors closely tracked the high-stakes meeting between US President Donald Trump and Chinese President Xi Jinping, with markets watching for any developments linked to the Iran conflict and global energy supply.
According to Beyond Time News, the focus of the talks includes efforts to ease geopolitical tensions that have disrupted global oil flows and increased uncertainty in energy markets.
Brent crude futures rose 26 cents, or 0.25%, to $105.89 a barrel, while US West Texas Intermediate (WTI) gained 32 cents, or 0.32%, to $101.34.
Analysts said prices were largely stable as traders adopted a cautious “wait-and-see” approach ahead of potential outcomes from the US–China discussions.
US Imposes New Sanctions Over Iran’s Oil Shipments to China
Market experts noted that expectations of progress remain limited, particularly on issues related to the Iran conflict and the Strait of Hormuz, a key global energy shipping route.
The Strait has faced ongoing disruption since tensions escalated in the region, raising concerns about global supply chains and energy security.
Some analysts warned that failure to ease restrictions in the region could keep pressure on global oil markets, while others pointed to continued geopolitical uncertainty as a key driver of price volatility.
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