Oil prices rise 1.1% to $65/barrel on US-China trade talks easing global tensions

From Yahoo Finance: 2025-06-09 15:07:00

Oil prices rose by 1.1% to $65 a barrel, the highest since April, due to US-China trade talks reducing global tensions. Commodity trading advisers liquidated short positions in WTI, signaling a potential shift to net-long if prices rise 3-4%. UN watchdog warns of Iran’s growing uranium stockpile, affecting OPEC flows.

Crude oil rebounded from earlier drops caused by OPEC+ supply increases and trade policy concerns. Summer demand season approaches, tightening markets. US crude futures trade over $1 higher than next month, indicating short-term supply constraints. US-China trade talks and Iran nuclear discussions impact oil prices.



Read more at Yahoo Finance: Oil Edges Up as Traders Await Outcome of US-China Trade Talks