US EditionOil rises on US-China talks and Saudi supply dip
- On Tuesday, oil prices remained close to levels not seen in nearly two months as attention centered on ongoing US-China trade negotiations and adjustments in supply.
- The talks in London, stretching into a second day, aim to resolve export control disputes that risk unraveling a tariff truce between the two largest economies.
- OPEC+ plans to increase output by 411,000 barrels per day as Saudi Aramco reduces July shipments to China by 1 million barrels compared to June, limiting supply growth.
- Brent crude futures increased by approximately 22 cents to $67.26 per barrel, reaching levels not seen since late April, while U.S. benchmark crude rose 18 cents to $65.47, driven by positive sentiment surrounding trade negotiations.
- Prices remain supported by trade optimism and supply constraints, but potential increases in OPEC output and Iran’s nuclear proposal pose risks to further gains.
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Oil prices started to rise on Tuesday, boosted by investor expectations for US-China trade talks and Saudi Arabia's intention to reduce crude oil supplies to China.
·Estonia
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Oil Extends Gains as Trump Signals Breakthrough in China Deal, Iran Risks Persist
Global oil prices climbed to a near two-month high on Wednesday amid renewed optimism over U.S.-China trade talks and rising geopolitical risks linked to Iran. The market responded to comments by U.S. President Donald Trump indicating that a preliminary agreement had been reached with China, boosting investor sentiment and lifting crude benchmarks. Brent crude oil, […] The post Oil Extends Gains as Trump Signals Breakthrough in China Deal, Iran …
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