Chinese President Xi Jinping hosted U.S. President Donald Trump at a state banquet in Beijing’s Great Hall of the People on Wednesday, with the high-stakes visit expected to continue through Friday. The summit has sent ripples across global markets: oil prices barely moved on Thursday as traders adopted what analyst John Kilduff of Again Capital called “an attitude of caution,” awaiting outcomes from the talks.
Brent crude closed virtually flat at $105.72, while West Texas Intermediate edged up 0.15% to $101.17. The Middle East loomed large over the agenda, with Trump claiming that Xi had offered to assist with the standoff over Iran. The visit’s implications extend well beyond energy — the Trump administration simultaneously pledged an additional $1.8 billion for UN humanitarian aid over the coming year, adding to the $2 billion committed in December, even as it has slashed foreign assistance elsewhere.
