Market drivers and price action
Crude prices ticked up after signals from Washington and Beijing suggested a cooler tone on trade. Benchmarks rose in early Asia trading, with traders citing reduced odds of immediate new barriers that could sap fuel demand. The move comes after weeks of choppy sessions tied to freight costs, refinery maintenance, and shifting OPEC+ expectations. Options desks reported modest demand for downside protection even as spot prices firmed.

What to watch next
Inventory data and policy headlines remain the catalysts. Any hiccups in Chinese diesel demand would ripple through marine fuel markets. A deeper rift could reverse today’s gains; a steadier dialogue could support a gradual grind higher. Meanwhile, the market’s structure has softened in recent weeks as fears of a 2026 surplus grow, a reminder that supply dynamics can reassert themselves quickly. For importers, the near-term relief at the pump comes with the usual caveat: geopolitics can turn on a headline.