World oil prices rose moderately on May 12 morning ahead of the publication of a joint statement by the US and China following the trade policy talks held in Geneva, Report informs via trading data and an analyst's commentary.
The price of July Brent crude futures rose by 0.64% to $64.32 per barrel, while June WTI futures rose by 0.74% to $61.47.
Analysts are awaiting the publication of a joint statement on the talks between the US and China. The parties held high-level talks on trade and economic issues in Geneva from May 10 to 11.
The coordinator from the Chinese side was Vice Premier of the State Council of the People's Republic of China He Lifeng, and from the US side - Secretary of the Treasury Scott Bessent. A joint statement on the talks will be published later on May 12.