Oil Prices Rebound on Trade Talk Optimism

Oil prices experienced a significant rebound, climbing over 1% on Wednesday. This uptick followed reports that China is open to engaging in trade discussions with the United States, sparking optimism among investors.

China's Conditions for Trade Talks

According to sources, Beijing has laid out specific conditions for the Trump administration before moving forward with negotiations. These include demands for greater respect, evidenced by limiting critical comments from US cabinet officials, and a more consistent US policy stance. Additionally, China seeks to address its concerns regarding American sanctions and the situation in Taiwan.

Market Response

West Texas Intermediate (WTI) for May deliveries saw a 1.17% increase, selling at $62.05 per barrel at 5:27 am ET. Similarly, Brent for June settlements rose by 1.16%, reaching $65.42 per barrel a minute later.