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Trump says China wants to buy oil from US
Trump said China agreed to buy U.S. oil, but Beijing has not confirmed any purchase and West Texas Intermediate rose 1.55%, traders said.
- On Friday, President Donald Trump claimed China agreed to purchase U.S. oil following his Beijing meeting with Chinese President Xi Jinping, sending U.S. West Texas Intermediate futures up 1.55%.
- Treasury Secretary Scott Bessent said Thursday that China will work behind the scenes to reopen the Strait of Hormuz, noting, "It's very much in their interest to get the strait reopened."
- While Brent crude futures gained 1.49%, Chinese authorities have not confirmed the energy purchase agreement and did not respond to inquiries before publication.
- The Chinese Foreign Ministry stated the new framework will shape bilateral ties for at least three years, focusing on cooperation and managing differences.
- This claim follows Trump's first-term deal packages worth around $250 billion, though an $11 billion weapons authorization for Taiwan remains pending amid ongoing trade negotiations.
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Takeaways from Trump's trip to China: Taiwan, a new framework for relationship and flattery for Xi
President Donald Trump’s three-day trip to China was unexpectedly dominated by discussions about Taiwan and a new framework for managing Washington and Beijing's complicated relationship.
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Coverage Details
Total News Sources85
Leaning Left14Leaning Right29Center13Last UpdatedBias Distribution52% Right
Bias Distribution
- 52% of the sources lean Right
52% Right
L 25%
C 23%
R 52%
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