← Latest news 
Oil Jumps to 105 as Trump and Xi Discuss Iran War Exit and Supply Relief
Business
Published on 14 May 2026
Only a trickle of tankers has cleared the Strait
Oil prices climbed to $105 as markets watched a high-stakes Trump-Xi meeting in Beijing. The focus: whether diplomacy can help end the Iran war disrupting supply, including fears around the Strait of Hormuz blockade. With supply lagging demand and few tankers reportedly exiting since February, traders are betting on a breakthrough to cool prices.
- Oil rises to around $105 amid renewed supply anxiety
- Trump meets Xi to discuss diplomacy tied to the Iran war
- Strait of Hormuz remains a critical pressure point
- Markets are leaning on a potential diplomatic breakthrough
Read the full story at Republic
This summarization was done by Beige for a story published on 
Republic