Oil Prices Fall After Fed Rate Cut and Trump-Xi Talks

Crude Oil Prices Slip Amid Trade Uncertainty

A combination of the Federal Reserve’s latest rate cut and the meeting between President Donald Trump and Chinese President Xi Jinping sent crude oil prices falling on Thursday.
Early trading showed the decline continuing through the afternoon, with U.S. benchmark West Texas Intermediate (WTI) crude closing at $60.25 per barrel on the New York Mercantile Exchange.
Brent crude, the global benchmark, ended at $64.52 per barrel.

At 8:25 a.m. ET (12:25 GMT), Brent oil futures for December fell 0.7% to $63.86 a barrel, while WTI crude futures dropped 0.7% to $60.06 a barrel.
Both benchmarks are on track for losses of more than 3% in October, marking a third straight month of declines as traders react to oversupply concerns and shifting global demand.

Trade Talks Drive Market Reactions

During the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Trump and Xi met Thursday to discuss new trade terms.
Trump described the meeting as “amazing,” announcing a deal to cut tariffs on China from 57% to 47% for one year.
In exchange, Beijing agreed to resume U.S. soybean purchases, maintain rare earth exports, and crack down on fentanyl trafficking.

Analysts say investors welcomed the temporary trade truce but remain cautious.
Despite easing tariffs, the stronger U.S. dollar continues to pressure crude prices, while industrial demand has weakened in recent weeks.
Market watchers believe a sustained recovery will depend on clearer signs of global economic stability.

Natural Gas Prices Rise Sharply

While oil prices dropped, natural gas prices surged more than 4% Thursday.
Gas settled at $3.983 per MMBtu, a gain of $0.168 or 4.40%.
The rally followed new cold-weather forecasts that increased expectations for winter heating demand across Oklahoma and the central U.S.

Traders said the jump highlights a possible shift in investor sentiment toward domestic energy sources, with Oklahoma producers preparing for higher seasonal demand.

Oklahoma Energy Stocks Show Mixed Results

Oklahoma energy stocks closed with mixed outcomes.
Empire Petroleum Corporation and LSB Industries each dropped nearly 10%, while Stardust Power declined 6% for the day.
Other regional firms recorded modest gains, helped by optimism over natural gas prices and longer-term demand growth.

As the global market reacts to both Federal Reserve policy and trade negotiations, Oklahoma producers continue adjusting to fluctuating prices that define today’s volatile energy economy.