Trump‑Xi talks lift oil above $100

Donald Trump and Xi Jinping met in Beijing on Friday as oil held above $100 a barrel and investors watched for any sign that the two leaders could ease tensions affecting trade and energy markets. Reuters reported that Brent crude was up 5% for the week and hovering above $106 a barrel as the Iran war kept the Strait of Hormuz largely shut. Chinese state media and other outlets said Trump’s state visit to China ran from May 13 to May 15, with talks in Beijing on May 14 and May 15. Oil prices stayed elevated even as broader markets firmed on hopes around the summit. A Times of India report on May 14 said disruptions in the Strait of Hormuz had lasted 75 days and that U.S. crude traded at $101.1 while Brent stood at $105.8 in early trading. The International Energy Agency says the strait carried an average 20 million barrels a day of crude oil and oil products in 2025, making it one of the world’s most critical oil chokepoints. (sg.finance.yahoo.com) ### Why were traders focused on the Trump-Xi meeting? Reuters said investors were focused on a meeting between Trump and Xi as higher energy prices fed inflation fears and complicated the interest-rate outlook. The Reuters market report said the two leaders were set to meet later on Friday to wrap up a two-day state visit that had already featured business deals and a warning from Xi on Taiwan. (timesofindia.indiatimes.com) China’s foreign ministry said Xi held talks with Trump in Beijing on the morning of May 14 at the Great Hall of the People. Xinhua said before the meeting that Trump was on a state visit from May 13 to May 15, his second visit to China as U.S. president. ### How high is oil, and how unusual is this stretch? (sg.finance.yahoo.com) Reuters said Brent was hovering above $106 a barrel on May 15. The Times of India report said WTI was at $101.1 and Brent at $105.8 on May 14, extending a run above $100 that outlet described as 75 days. March 9 is one marker for the move above $100. (mfa.gov.cn) A Times of India report published that day said U.S. oil had climbed above $100 a barrel for the first time in more than three and a half years as the war involving Iran disrupted energy production and shipping routes. (sg.finance.yahoo.com) ### What does the Strait of Hormuz have to do with the price move? The International Energy Agency says the Strait of Hormuz handled an average 20 million barrels a day in 2025. That volume is roughly one-fifth of global oil and oil products moved by sea, making any disruption there immediately relevant to benchmark prices. (timesofindia.indiatimes.com) Reuters reported on May 15 that the strait was still largely shut. A separate Reuters item summarized by MSN said oil ended little changed on May 14 after Iran’s state media said about 30 vessels had crossed the strait, though an attack on one ship and the seizure of another kept supply fears alive. (iea.org) ### Why does oil above $100 matter beyond energy markets? Higher crude prices feed directly into diesel, gasoline, shipping and freight costs. Reuters said on May 15 that higher energy prices were fueling fears of inflation and prolonged higher interest rates, a link that was already showing up in gold and currency markets. (sg.finance.yahoo.com) For construction and civil works, that matters because fuel and haulage are embedded in the cost of moving aggregates, asphalt, steel, equipment and labor. The price pressure is not only at the pump; it also affects subcontractor pricing, logistics schedules and contract budgets when elevated oil lasts for weeks rather than days. This is an inference drawn from the role of fuel in transport-heavy project delivery and from Reuters’ reporting that oil-driven inflation fears were already shaping broader market pricing. (sg.finance.yahoo.com) ### What should readers watch next? May 15 is the last day of Trump’s state visit to China, according to Xinhua and China’s foreign ministry. Reuters said markets were waiting for the leaders’ meeting later in the day, while official readouts from Beijing and Washington were expected after the talks. (english.gov.cn) (sg.finance.yahoo.com)