While Petrol Prices Remain Stable, Trade Talks Are Expected.

Situation in Oil Markets

In the Asian markets, oil prices on Thursday retained a large part of the gains from the previous session. Investors are anticipating the outcome of the trade talks between the United States and China and how this will reflect on the markets.

Brent and WTI Oil Prices

Brent crude oil futures fell to $64.88 as of 07:02 Turkish time, after an increase of 52 cents on Wednesday. This decline was recorded as a decrease of %0.06. On the other hand, U.S. West Texas Intermediate (WTI) crude oil futures also decreased by $60.39 despite a previous day's rise of 33 cents, marking a decline of %0.15.

Importance of Trade Talks

The two-hour meeting between U.S. President Donald Trump and Chinese President Xi Jinping held in Busan, South Korea, is seen as a critical step in reducing global economic tensions. However, no official statement regarding the outcome of the meeting has been made yet.

Market Optimism and Energy Demand

Sugandha Sachdeva, the founder of a research company based in New Delhi, stated that any potential trade agreement could increase global market optimism, potentially boosting energy demand. Sachdeva noted, “Any progress towards a trade agreement strengthens market confidence, which could create upward pressure on oil prices,” in her evaluation.

Conclusion

The dynamics of global energy markets will be shaped by the outcomes of the trade talks. As investors closely monitor developments, these talks are expected to play a decisive role in the long-term trend of oil prices.