The growing tensions related to trade between the United States and China had previously impacted crude oil markets.
Crude oil futures were negotiated higher on Friday morning while the market waited for the start of a US-China meeting on May 10 for discussion about trade-related issues.
At 9.58 am on Friday, July Brent oil futures were $ 63.10, 0.41 percent of June, and the future raw of June in WTI (West Texas Intermediate) were $ 60.16, 0.42 percent. May oil futures were quoted at ₹ 5,179 in the duration of the multiple exchange duration (MCX) the initial time of Friday’s negotiation against the previous closure of ₹ 5163, 0.31 percent, and June’s futures quoted ₹ 5,164 in 0.23 percent.
The United States Secretary of the United States, Scott Besent, and China’s official economic vice president, He Lifeng will meet in Switzerland on May 10 to solve problems related to commercial tariffs between the two nations.
Increased tensions related to trade between the thesis, two economies had affected crude oil markets. Both the United States and China are the main consumers of merchandise in the global market. Market players feel that the result of the proposal meeting between the United States and China could help improve the demand for crude oil.
Added to this, the announcement of a commercial agreement between the United States and the United Kingdom also helped increase feelings. On Thursday, the president of the United States, Donald Trump, and the British prime minister, Keir Starmer, announced a limited bilateral commercial agreement.
Meanwhile, the last levels of crude oil inventory in the US. UU. They also supported crude oil prices.
According to the weekly Petroleum State Report of the US EIA. To 438.4 million, the crude oil from the USA. Uu. Inverlow 7 or the central year.
Total motor gasoline inventories increased by 0.2 million barrels last week and were approximately 3 percent below the average of five years for this time of year.
May gas futures were quoted at ₹ 312.30 with MCX duration the initial negotiation time on Friday against the previous closure of ₹ 306.80, 1.79 percent more.
In the National Exchange of National and Derivative Products (NCDEX), the contracts of May of Jeera traded ₹ 2,1115 at the initial time of Friday’s negotiation against the previous closure of ₹ 21,290, 0.82 percent.
May’s futures Guargum were quoted at ₹ 9,176 in NCDEX at the initial negotiation time on Friday against the previous closure of ₹ 9.246, 0.76 percent.
Posted on May 9, 2025
