Oil Steadies Ahead of Trump-Xi Talks as Iran War Tensions Simmer

Oil steadied ahead of a meeting between US President Donald Trump and Chinese leader Xi Jinping, set against the backdrop of the Iran war that shows no signs of a near-term resolution.

Brent crude traded below $106 a barrel after falling 2% in the previous session, while West Texas Intermediate was near $101. Trump, who is scheduled to meet Xi in Beijing on Thursday, told reporters this week that trade talks would be prioritized over discussions about the Middle East conflict.