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Oil slips as Iran ceasefire hangs in balance and Trump heads to China
Economy
Published on 13 May 2026
Brent drops but traders still fear supply shocks
Oil prices eased as investors paused for clarity on a fragile Iran ceasefire and on President Trump’s upcoming summit with China’s Xi Jinping. Brent crude futures fell to $106.95 a barrel and WTI to $101.52. Despite the dip, analysts expect conflict-linked supply disruptions to keep prices above $80 this year.
- Brent futures fell to $106.95 while WTI dropped to $101.52
- Markets are waiting for signals on a teetering Iran ceasefire
- Trump’s China summit adds uncertainty to global demand expectations
- Geopolitical supply risks are expected to support prices above $80
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times