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Market Chatter: Trump Claims Xi Backs Hormuz Reopening, But Beijing Stays Silent

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U.S. President Donald Trump said Chinese leader Xi Jinping agreed that Tehran should reopen the Strait of Hormuz, but the latter stayed mum on talks about Iran, Reuters reported Saturday.

Fresh off the summit in China, Trump said he is considering removing sanctions on Chinese oil firms that purchase Iranian crude, according to the report.

Beijing's foreign ministry slammed the war, saying it "should never have happened" and "has no reason to continue," Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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