12 Oct 2026

03:33

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    15$

    FOB Bandar Abbas - New Steel Drum

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    London - Bulk

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Home Blog Xi-Trump Summit Disappoints as Oil Bulls Regain Momentum

Xi-Trump Summit Disappoints as Oil Bulls Regain Momentum

codarx

codarx

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Update date: 2026/05/15

Oil prices surged $7 this week as Iran tensions, Hormuz risks, and weak signals from the Xi-Trump summit overshadow bearish OPEC and IEA demand forecasts. Friday, May 15, 2026 In a week that started off with both OPEC and the IEA slashing their demand forecasts for 2026, oil prices are set for a hefty $7 per barrel week-on-week gain. The much-anticipated Xi-Trump summit in Beijing provided little hope for any short-term market normalization, turning out to be quite thin on commodity-relevant substance. Iran has added fuel to the oil market’s…

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