US President Trump says Chinese President Xi committed not to give Iran military equipment but said China will keep purchasing Iranian oil (something Sec. Bessent and others have long pressed Beijing to stop doing, through both rhetoric and sanctions).

President Trump's statement on President Xi's commitment to not providing military equipment to Iran, while allowing China to continue purchasing Iranian oil, signals ongoing complexities in US-China relations and the broader geopolitical landscape. This could impact energy markets as continued Chinese oil purchases may keep pressure on global supply and prices, while also challenging US sanctions effectiveness. Traders should closely monitor how this affects oil prices and investor sentiment, particularly in commodities and Forex markets.