Oil Prices Slip After 7% Surge Amid Trump-China Talks

Oil prices fell Wednesday, Brent down 1.9% to $105.76/barrel, WTI down 1% to $101.14/barrel after >7% rise.
Trump’s China visit and talks with Xi Jinping focus on Iran war, with expectations of limited impact on oil markets.
IEA cuts 2026 demand forecast by 420k bpd to 1.17m bpd; OPEC lowers outlook similarly and expects 1.54m bpd in 2027.
EIA reports Q1 2026 Hormuz oil flow down 29.5% to 14.6m bpd and U.S. crude inventories fell 4.3m barrels to 452.9m barrels.