Oil prices are rising. In front of the eyes of the OPEC+ meeting and US-China trade analysis

Oil prices on the Fuel Exchange in New York are rising, and investors are considering the possibility of commercial talks between the USA and China in the context of the potential growth of oil supply from OPEC+ countries and possible sanctions for the supply of Iranian oil – the brokers inform.

A barrel of West Texas Intermediate in delivery on VI costs at Nymex in New York 59.62 USD, higher by 0.64 percent.

Brent on ICE on VII is valued at USD 62.52 for a barrel, after an increase of 0.63 percent.

Investors in the markets are counting on a possible thaw in tense trade relations between the USA in China after China announced on Friday that they are considering commercial talks from the USA.

The United States contacted China regarding possible negotiations regarding the disputed duties – the Ministry of Trade in Beijing said on Friday.

“The United States has recently sent messages to China through the relevant pages, hoping to start talks with China,” wrote the Ministry of Trade of the USA.

China authorities are currently assessing Washington's proposals and expect honesty and readiness to withdraw from the imposed tariffs from the US.

“China is currently assessing this,” the Ministry of Trade of China said.

In the markets, this information has improved investors' appetite for risky assets, including oil.

Meanwhile, US President Donald Trump is threatened with secondary sanctions on buyers of Iranian oil.

Donald Trump announced on Thursday in his social media that all buyers – every country or person who buys any amount of crude oil or petrochemical products from Iran, will be immediately subjected to secondary sanctions.

“All purchases of Iranian oil or petrochemical products must be suspended immediately!” – Trump wrote on the Truth Social social networking site.

“Everyone who” buys any amount of oil (…) from Iran will be subject to immediate secondary sanctions. They will not be allowed to conduct business with the United States of America in any form, “he warned.

“For now, in markets, oil prices are trying to stabilize after the last + bear + moods, and the deadlock in the US relations with Iran increases the likelihood of further sanctions for the Iranian oil sector” – indicates Jun Rong Yeap, a market strategist at IG Asia PTE LTD.

Meanwhile, the countries of the OPEC+Alliance are preparing for their meeting.

Manufacturers from this group will meet on Monday to determine their oil supply policy for June.

OPEC+ has significant unused production capacity to restart, which in the markets intensifies the fears that the global oil supply of oil will significantly exceed the demand for raw material in 2025. At a time when the trading war is ongoing by US President Donald Trump, and this can harm the global economy and reduce energy demand.

(PAP Biznes)

aj/ ry//