Trade negotiations in the US china: oil prices stable while investors act in London in London; Brent is more than $ 66 – Times of India

The oil prices remained stable on Monday after last week’s win, because the markets were waiting for the outcome of renewed trade negotiations in the US-China in London. Brent remained above $ 66 per barrel after an increase of 4% last week, with West Texas intermediary floating near $ 65.American and Chinese negotiators are planned to meet each other in London on Monday for the first round of conversations under the new life of economic and trade mechanism, causing the hope of relieving tensions between the two largest economies in the world.The announcement came after a rare phone call among the top leaders of the two nations on Thursday, because both parties are confronted with growing pressure to relieve tensions – especially in the midst of China exports on rare earths that disturb worldwide supply chains.“The meeting must go very well,” wrote US President Donald Trump on Truth Social on Friday afternoon. “Thank you for your attention for this issue!” he added.The oil prices registered their first weekly increase in three weeks after the announcement. London’s raw prices have fallen by 11% this year, which reflects concern that intensifying trade differences can hinder global growth and energy consumption.At the same time, OPEC+ has increased production faster than expected, so that the concern about the potential oil surplus affects prices in the second half of the year.The volatility of the oil price has been moderated since mid -May, despite downward pressure during Trump’s second term. Market participants evaluate several factors, including positive developments in trade negotiations, increased fuel demand during summer at the northern hemisphere, in addition to potential risks arising from situations in Iran and Russia.The outcome of the upcoming British meeting could play a key role in shaping the market sentiment in the midst of continuous trade stresses, GAO Mingyu, Chief Energy Analyst, based in Beijing at SDIC Essence Futures Co, told Bloomberg.“If the British meeting continues to identify optimism, this could weaken the negative economic impact of the trade war,” the analyst noted.“After the short -term preparation of the OPEC+July, Ouptut Hike was digested, which improved the macrosentiment, the stronger seasonal demand and persistent geopolitical risks, they all offered support,” she added.Since mid-May, the oil wells have been moved within a narrow $ 4 reach, while the volatility has fallen to the lowest levels since the beginning of April. At the same time, the rapid spread of Brent Crude is extensively in line, a market pattern that indicates stronger demand in the short term.