WTI Oil uncertain after Trump-Xi talks as IEA flags supply deficit
The post WTI Oil uncertain after Trump-Xi talks as IEA flags supply deficit appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) trades around $97.30 at the time of writing on Thursday, up 0.34%, in a trading day marked by elevated volatility. The US Crude Oil benchmark initially fell to as low as $95.50 following the market’s first reaction to discussions between US President Donald Trump and Chinese President Xi Jinping, before erasing losses and returning to positive territory. The price reversal comes after White House officials described the meeting between the US and Chinese presidents as “good”, highlighting discussions aimed at strengthening economic cooperation. Both leaders also agreed that the Strait of Hormuz should remain open, a particularly sensitive issue for Oil markets given the strategic importance of the passage for global Oil trade. The comments reduced part of the geopolitical risk premium that had been built into energy prices in recent weeks. Marke