Oil Rises 1% on Hopes of Easing Trade Tensions
World oil prices rose by about 1% on October 13, 2025, after plummeting to a five-month low due to concerns about an escalation in the US-China trade war. Brent rose to US$63.60 per barrel and WTI was at US$59.77, with market sentiment improving after signs that a meeting between Trump and Xi at APEC could ease tensions.
This recovery was driven by expectations that the initial moves to ease tariffs and export restrictions might only be a bargaining chip, not a permanent escalation. However, analysts warned that this rebound does not yet indicate a fundamental change, and prices could come under further pressure unless there is concrete progress in trade negotiations.
Brent oil price at the time of writing is $63.72
- Buy if the price moves within $63.82
- Sell if the price moves within $63.62
Resistance 2: $64.02
Resistance 1: $63.92
Support 1: $63.52
Support 2: $63.42
Disclaimer:
This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
