Brent at 106 dollars awaiting Trump talks results China

 Oil prices rose on Thursday as markets focused on the summit of US President Donald Trump and his Chinese counterpart Xi Jinping to see if it would yield any positive results regarding the war with Iran, which has caused a major disruption in global oil supplies. In addition to trade issues, Trump is expected to encourage China to persuade Tehran to conclude an agreement with Washington to end the war, but analysts doubt Xi's willingness to press hard on his long-time strategic partner. Brent crude futures rose by 42 cents to reach $106 a barrel by 07:45 Baghdad time, while US West Texas Intermediate crude futures rose by 50 cents to $101.5. The two benchmarks had fallen on Wednesday, as investors worried about the possibility of raising US interest rates in light of inflationary pressures fueled by high fuel prices. Brent crude fell by more than two dollars a barrel, while West Texas Intermediate fell by more than a dollar.