Crude Oil Prices Recover After Hitting Five-Month Lows Amid Hopes of U.S.-China Talks

Crude Oil prices bounced back on Monday after hitting five-month lows in the previous session. The recovery comes as markets anticipate potential discussions between U.S. President Donald Trump and Chinese President Xi Jinping that could ease trade frictions between the two largest global economies and top oil consumers.

Brent crude futures rose 87 cents, or 1.39%, to $63.60 a barrel by 0045 GMT, recovering from Friday’s 3.82% drop to the lowest level since May 7. Similarly, U.S. West Texas Intermediate (WTI) crude gained 87 cents, or 1.48%, to $59.77 a barrel, after losing 4.24% in the previous session.

Trade Tensions Weigh on Market Sentiment

Oil prices had declined last week as U.S.-China trade tensions escalated. China expanded export controls on rare earth materials, prompting President Trump to announce 100% tariffs on all U.S.-bound Chinese exports and additional restrictions on critical software by November 1. The standoff raised fears of slower global growth and weaker oil demand.

However, hopes revived after reports suggested a possible Trump-Xi meeting later this month during the Asia-Pacific Economic Cooperation (APEC) forum in South Korea.

Also Read: Indian Household Gold Holdings Surge to 27,871 Tons Amid Global Price Rally!

Conclusion

While oil prices have shown early signs of recovery, their stability depends on diplomatic progress between the U.S. and China. A constructive dialogue could ease market uncertainty, restore confidence, and support a sustained rebound in global crude demand.

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