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Oil Surges Past $65 as US-China Trade Negotiations Fuel Market Optimism

Oil Surges Past $65 as US-China Trade Negotiations Fuel Market Optimism

Oil markets are showing strength as West Texas Intermediate crude surpassed $65 per barrel, reaching its highest point since April.

The price increase is driven by ongoing US-China trade talks in London, which traders hope will ease tensions between the world’s two largest economies.

This recovery comes after oil prices tumbled earlier in the year due to increased OPEC+ production and worries about demand destruction from Trump’s tariff policies.

Current market indicators suggest tight supplies, with near-term futures trading at a $1 premium to later contracts. However, analysts caution that strong summer demand may be masking underlying market weaknesses.

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