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Crude oil futures end marginally higher on Thursday

31 Oct 2025 Evaluate

Crude oil futures ended marginally higher on Thursday amid positive outcomes from meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. The US has agreed to reduce fentanyl-linked tariffs on China to 10 percent from 20 percent, while China has agreed to resume purchases of US soybeans. Moreover, China will suspend the implementation of new export controls on rare earths, and in return, the US will suspend its 50 percent penetration rule on export controls.

Benchmark crude oil futures for December gained $0.09 or 0.15% at $60.57 a barrel on the New York Mercantile Exchange. Brent crude for December delivery rose $0.08 or 0.12% to settle at $65 a barrel on London's Intercontinental Exchange.

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