Expert analysis
Donald Trump arrived in China yesterday for talks with Xi Jinping.
The leaders are expected to discuss several major topics, including tariffs and trade, the Iran war, and Taiwan.
Trump is reportedly trying to convince China to put pressure on Iran in support of a Washington-backed agreement, although analysts believe Xi is unlikely to push Tehran too hard given China’s strategic ties with Iran.
At the start of the meeting, Xi said progress had been made in trade negotiations, but also warned that disagreements over Taiwan could push US-China relations into dangerous territory.
From the market’s perspective, one of the key questions is whether the talks could help advance the reopening of the Strait of Hormuz. According to ING analysts, the oil market is currently in “wait-and-see mode”, and may be placing too much hope on US-China negotiations to resolve the Iranian conflict.
Meanwhile, gas prices are moving sideways based on ICE intraday data, while investor positioning also remains largely sideways, with a slight decline in net long positions.
Source: Reuters
Analysis written by: Tóth Eszter Lilla
14 May 2026