Crude oil futures experienced slight increases on Tuesday morning, buoyed by reports of a potential meeting between U.S. President Donald Trump and Chinese President Xi Jinping later this month.
As of 9:55 AM on Tuesday, December Brent oil futures traded at $63.36, marking a rise of 0.06 percent, while November West Texas Intermediate (WTI) crude oil futures appreciated to $59.52, up by 0.05 percent. In commodity trading on the Multi Commodity Exchange (MCX), October crude oil futures were priced at ₹5,290 during the initial trading hour, a decline of 0.25 percent from the previous close of ₹5,303. November futures were also down by 0.25 percent, trading at ₹5,278 compared to the previous close of ₹5,291.
U.S. Treasury Secretary Scott Bessent affirmed that President Trump remains dedicated to meeting with President Xi in South Korea later this month. He indicated that significant communication between the two nations occurred over the weekend and anticipated further meetings, as both the U.S. and China work to de-escalate ongoing trade tensions.
Concurrently, the Organization of the Petroleum Exporting Countries (OPEC) published its monthly oil market report on Monday. The report projects global oil demand growth for 2025 at approximately 1.3 million barrels per day year-over-year, consistent with last month’s assessment. In the Organisation for Economic Co-operation and Development (OECD), oil demand is expected to increase by around 0.1 million barrels per day year-over-year, primarily driven by the OECD Americas.
In non-OECD countries, oil demand is predicted to grow by about 1.2 million barrels per day year-over-year, largely steered by increases in Other Asia, China, and India, with other regions also anticipated to show positive growth. The forecast for global oil demand in 2026 remains unchanged, with a projected healthy increase of one million barrels per day year-over-year. The OECD should see an increase of approximately 0.1 million barrels per day, led by the OECD Americas, while non-OECD demand is expected to rise by around 1.2 million barrels per day, again led by Other Asia, followed closely by India and China.
In natural gas trading, October futures were listed at ₹273.40 on the MCX, a decrease of 1.12 percent from the previous close of ₹276.50.
On the National Commodities and Derivatives Exchange (NCDEX), October contracts for farmer-polished turmeric traded at ₹13,366 in the initial hour of trading on Tuesday, reflecting a 4 percent increase from the previous close of ₹12,852. Furthermore, October guargum futures saw an increase to ₹9,300, up by 1.71 percent compared to the previous close of ₹9,144.
Published on October 14, 2025.
