{"id":18696,"date":"2025-10-13T21:02:43","date_gmt":"2025-10-14T01:02:43","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=18696"},"modified":"2025-10-13T21:04:45","modified_gmt":"2025-10-14T01:04:45","slug":"petroleum-daily-report-10-13-2025","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-10-13-2025\/","title":{"rendered":"Petroleum Daily Report 10-13-2025"},"content":{"rendered":"\n

Oil prices rose Monday after confirmation that U.S. President Donald Trump will meet Chinese President Xi Jinping later this month, easing renewed trade tensions that last week pushed crude to five-month lows. Brent crude gained $0.59 (+0.9%) to $63.32, while WTI rose $0.59 (+1.0%) to $59.49. Both benchmarks had plunged about 4% Friday after Trump threatened to cancel the meeting and raise tariffs on Chinese goods.<\/p>\n\n\n\n

Treasury Secretary Scott Bessent said the summit remains scheduled for late October in South Korea, noting \u201csubstantial communications\u201d between both sides over the weekend.<\/p>\n\n\n\n

\u201cWe have substantially de-escalated,\u201d Bessent told Fox Business Network.<\/p>\n\n\n\n

DBS analyst Suvro Sarkar said markets were now \u201ccapped by Washington and Beijing\u2019s willingness to negotiate,\u201d with sentiment hinging on the trade outcome.<\/p>\n\n\n\n

China\u2019s September crude imports rose 3.9% year-on-year to 11.5 million bpd, providing some demand support. OPEC, meanwhile, kept its 2025\u201326 oil demand growth forecast unchanged, but warned that output increases within OPEC+ could narrow next year\u2019s supply deficit.<\/p>\n\n\n\n

Geopolitical developments limited upside. Under a U.S.-brokered ceasefire, Hamas freed the final 20 Israeli hostages, prompting Trump to declare a \u201chistoric dawn of a new Middle East.\u201d PVM analysts, however, said traders were waiting for proof the truce would hold:<\/p>\n\n\n\n

\u201cThe market has been skeptical by voting with price \u2026 it will wait for a ceasefire that lasts more than a few days.\u201d<\/p>\n\n\n\n

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