Crude Oil Prices Edge Up on June 10 Ahead of US-China Trade Talks

Crude oil prices edged higher in early trade on Tuesday as global markets awaited the outcome of ongoing US-China trade talks. As of 9:57 AM, Murban crude was also slightly higher at $67.18, gaining 0.19%. At 10:00 AM IST, Brent crude futures were trading at $67.20, up 0.24%, while WTI (West Texas Intermediate) futures were at $65.39, up 0.15%.

MCX Oil Futures in Green

On the domestic front, crude oil futures on the Multi Commodity Exchange (MCX) reflected similar positive sentiment. June crude futures were trading at ₹5,599, up 0.61% from the previous close of ₹5,565. Meanwhile, July futures were at ₹5,530, up 0.55% from ₹5,500.

Focus on US-China Trade Developments

The upward movement in crude prices can be attributed to expectations from the trade discussions between the United States and China. The latest round of talks commenced in London on Monday, where key topics such as tariff rollbacks, export controls, and broader trade policies are expected to be addressed. Market participants are hopeful that positive developments could boost global demand prospects, supporting oil prices further.

Zinc Futures Slightly Lower

Among base metals, June zinc futures were trading lower on MCX at ₹251.60, down 0.32% from the previous close of ₹252.40. The dip suggests cautious sentiment in the metals market amid global economic uncertainties.

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Conclusion

Oil prices continue to remain sensitive to geopolitical and economic developments. As the US-China trade talks progress, investors will closely watch for cues that could drive demand expectations and influence energy markets in the near term.

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