Crude Oil Slips on June 9 Ahead of US-China Trade Talks

Crude oil futures traded with marginal losses on Monday morning despite anticipation surrounding key US-China trade negotiations scheduled for the day. At 9:56 AM IST, August Brent crude oil futures were down 0.09% at $66.41 per barrel, while July WTI crude oil futures were trading at $64.54, down 0.06%. As of 10:35 AM, Brent Crude was down 0.11%.

On the Multi Commodity Exchange (MCX), June crude oil futures were marginally higher at ₹5,535, up 0.02% from the previous close of ₹5,534. Similarly, July futures edged up by 0.05% to ₹5,473.

US-China Talks Raise Market Hopes

The marginal drop in crude prices comes even as investors await the outcome of direct trade negotiations between the US and China in London. This meeting is a follow-up to a recent hour-long phone conversation between Chinese President Xi Jinping and US President Donald Trump, where Xi reportedly urged Trump to ease trade tensions.

Top US officials including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are expected to meet Chinese Vice Premier He Lifeng. Discussions are expected to cover tariff rollbacks, export controls, and other key bilateral trade concerns.

Economic Data May Influence Oil Demand Outlook

Adding to the market sentiment, the latest US jobs report showed steady unemployment in May, fueling expectations of a potential interest rate cut by the Federal Reserve. Analysts believe that a rate cut could support crude oil prices by stimulating economic activity and boosting energy demand.

Also Read: Gold and Silver Prices Trades Lower: Check Rates in Your City on June 09, 2025!

Conclusion

Despite modest intraday losses, the ongoing US-China trade talks and the possibility of a US rate cut could provide support to crude oil prices. With both countries being major consumers of oil, any resolution to trade tensions may improve the global demand outlook, offering a more optimistic trajectory for crude markets in the coming weeks.

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