Oil Holds Near $106 as Trump-Xi Summit Looms

Brent futures rose 0.1% to $105.68/bbl and WTI to $101.08/bbl as of 20:27 ET on May 14, 2026.
Markets awaited the Trump‑Xi Beijing summit, seeking clues on the Iran conflict and potential Chinese role in easing Middle‑East tensions.
IEA warned of a heavily undersupplied global oil market through 2026 due to the Iran war and reduced Gulf exports.
US crude inventories fell 4.3 million barrels last week, exceeding the 2.0 million‑barrel forecast and supporting prices above $100/bbl.