Oil Rises as Trump-Xi Talks Lift Market Sentiment

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On May 14, 2026, oil prices moved higher as investors closely monitored the Trump-Xi meeting in Beijing, hoping diplomatic talks could ease pressure on global energy supplies.

Oil Prices Edge Higher Ahead of Key Beijing Summit

Oil prices climbed Thursday as markets focused on discussions between Donald Trump and Xi Jinping, with traders watching for signs of progress tied to the Iran conflict. Brent crude gained 45 cents to $106.08 a barrel, while U.S. WTI crude added 41 cents to $101.43.

Hormuz Risks Keep Energy Markets Alert

The Strait of Hormuz remained central to market sentiment as supply concerns continued to support oil prices. Analysts cautioned that limited progress from the Beijing summit could keep volatility elevated after both benchmarks fell sharply in the previous session.