You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Flat As Jinping "Opposes" Militarization Of the Hormuz And Some Ships Transit The Strait Oil Flat As Jinping "Opposes" Militarization Of the Hormuz And Some Ships Transit The Strait by Ship & Bunker News Team Thursday May 14, 2026 Tweet Follow @shipandbunker Meanwhile, China faces its second-steepest gasoline demand slump on record: File Image/Pixabay. Oil trading was surprisingly flat on Thursday, with investors getting mixed signals from Iran : on one hand that country’s media stated  that about 30 ships had crossed the Strait of Hormuz ; but on the other, reports of Iran attacking a vessel and seizing another stoked long-standing supply disruption fears. Meanwhile, mildly positive sentiment was generated by U.S. president Donald Trump ’s visit to China and meeting with its president, Xi Jinping , the outcome of which so far was reportedly   an agreement to buy U.S. soybeans, energy, and jets. Brent on Thursday settled up 9 cents at $105.72 per barrel, while West Texas Intermediate settled up 15 cents at $101.17. “ Oil prices are in a wait-and-see mode ING analysts Iran allowing some Chinese vessels to pass through the Strait was said to be the result of diplomatic overtures stemming from the Trump/Jinping meeting; however, although Washington officials said Trump pressed Jinping to end the war with Iran and open the waterway, it wasn’t clear whether any substantial commitments had been secured beyond the two sides agreeing that the Strait must remain open to support the free flow of energy. A White House statement added, “President Xi also made clear China’s opposition to the militarization of the Strait and an