On Monday, oil prices began to rise amid optimism related to expectations of a new round of trade negotiations between the United States and China. President Donald Trump had previously announced that a meeting of the delegations was scheduled for June 9 in London and expressed hope for a successful outcome. August Brent crude futures on the London ICE Futures Exchange rose to $67 per barrel. July WTI futures on the NYMEX exchange reached $65.04 per barrel. The first round of trade negotiations between the United States and China was held in Switzerland on May 10-11, where the parties agreed on a temporary reduction in duties. Analysts note that if the results of the meeting in the UK turn out to be positive, this could reduce the negative economic consequences of the trade war. However, data released today showed a decline in Chinese imports in May, including oil purchases, which could be a deterrent to the oil market. The General Administration of Customs of the People's Republic of China reported that the total volume of imports decreased by 3.4% year-on-year, while oil imports decreased by 3%.
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