Brent Crude Holds Above $100 Amid Trump-Xi Talks and Hormuz Tensions

Brent crude oil prices remain elevated above $100 per barrel, driven by ongoing discussions between former President Trump and Chinese President Xi, alongside heightened risks in the Strait of Hormuz. This situation influences market sentiment through the channel of risk appetite, as geopolitical tensions can disrupt supply routes, leading to concerns over oil availability. Oil markets are particularly sensitive to these developments, with traders closely watching any potential outcomes from the Trump-Xi talks that could impact U.S.-China relations and energy demand. The upcoming OPEC+ meeting will be a key event for traders, as any production adjustments or statements regarding supply management could further influence oil price dynamics.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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