On Thursday, oil prices saw a slight increase as investors awaited a crucial meeting between US President Donald Trump and Chinese President Xi Jinping. Brent crude futures rose by 13 cents to $105.76 per barrel, while US West Texas Intermediate futures gained 12 cents, reaching $101.14. This uptick follows a decline on Wednesday, where both benchmarks fell due to concerns over potential US interest rate hikes. Trump's visit to Beijing aims to secure economic advantages and navigate complex issues, including the ongoing Iran war and arms sales to Taiwan. Despite Trump's assertion that he does not need China's help to resolve the Iran conflict, he is expected to seek Xi's support, although analysts doubt he will achieve substantial progress. IG analyst Tony Sycamore noted that failure to reopen the Strait of Hormuz could lead the US to consider military action. Meanwhile, Iran has tightened its grip on the Strait, making deals with Iraq and Pakistan to ship oil and liquefied natural gas. Notably, China remains the largest buyer of Iranian oil, with projections indicating that over 80% of Iran's oil shipments will go to China by 2025.