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Crude Markets Rally on Hope for U.S.-China Deal While Saudi Cuts Chinese Supply

Oil prices increased on Tuesday as markets responded positively to ongoing U.S.-China trade negotiations in London. Brent crude rose to $67.20 per barrel while U.S. crude reached $65.43.

The price gains reflect investor optimism that a trade deal could boost global economic growth and oil demand.

Meanwhile, Saudi Arabia plans to slightly reduce its oil shipments to China in July, and OPEC+ continues to gradually increase production.

Separate negotiations between the U.S. and Iran regarding nuclear issues and sanctions remain unresolved, which could impact future oil supply if sanctions are lifted.

Dow to Gold Ratio: 100 Years of History Decoded
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Dow to Gold Ratio: 100 Years of History Decoded

Gold has gained roughly 15.6% since January 1, 2026, while the Dow is up just 2.7% over the same stretch. That gap doesn’t register in most financial headlines — but the Dow to gold ratio captures it with precision. Right now, the ratio reads approximately 10: it takes around 10 ounces of gold to match one unit of the Dow index. At the dot-com peak in 1999, it took 43. What does that shift tell us, and where does it go from here?

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