Oil edges up as investors focus on Trump-Xi meeting in Beijing

Oil prices rose on Thursday, with markets focusing on the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping to see if it will yield any positive result on the Iran war, which has significantly disrupted global oil supply. Aside from trade matters, Trump is expected to encourage China to convince Tehran to make a deal with Washington to end the conflict, but analysts doubt that Xi will be willing to push its long-time strategic partner too hard. Brent crude futures were up 26 cents, or 0.25%, to $105.89 a barrel by 0250 GMT, while U.S. West Texas Intermediate futures rose 32 cents, or 0.32%, to $101.34.