Key Takeaways
- UK Business Secretary Peter Kyle is in Beijing to restart high-level trade talks with China, aiming for £1 billion in new market access deals for British businesses over five years.
- The visit marks the first UK-China Joint Economic and Trade Commission (Jetco) meeting since 2018, signaling a push to revive trade ties despite ongoing human rights and fair trade concerns.
- In energy markets, the American Petroleum Institute (API) reported significant inventory builds across crude oil, gasoline, and distillates, potentially indicating softening demand and bearish pressure on oil prices.
UK Renews Push for China Market Access
The United Kingdom is actively working to re-engage with China on trade, with Business Secretary Peter Kyle leading a delegation to Beijing for the first Joint Economic and Trade Commission (Jetco) talks since 2018. The primary objective of Kyle's visit is to secure greater market access for British businesses, targeting deals worth over £1 billion across key sectors such as automotive, professional services, and healthcare over the next five years.
This high-level engagement represents a strategic effort by the Labour government to revitalize UK-China trade relations and stimulate the British economy. China remains a crucial economic partner, serving as the UK's fifth-largest export market, with goods and services valued at approximately £41 billion. The Jetco summits were previously suspended in 2019 by the Conservative government following Beijing's crackdown on pro-democracy protests in Hong Kong.
Despite the economic ambitions, Secretary Kyle is also expected to address sensitive issues, including human rights concerns and practices that undermine fair competition for UK businesses. The delegation includes representatives from around 200 British businesses, who are also participating in the China International Fair for Investment and Trade (Cifit). This visit is part of a broader, sustained effort, with Kyle being the ninth government representative to visit China since Labour came to power, as the UK seeks a "pragmatic, careful and confident relationship" with the world's second-largest economy.
API Reports Significant Oil Inventory Builds
In the energy sector, the latest data from the American Petroleum Institute (API) indicates a notable increase in U.S. crude oil and refined product inventories. For the week ending September 9, 2025, API reported that crude oil inventories rose by 1.25 million barrels.
Further builds were observed in refined products, with gasoline stocks increasing by 0.329 million barrels and distillate inventories (including diesel and heating oil) climbing by 1.500 million barrels. These figures often serve as a precursor to the official data released by the Energy Information Administration (EIA) and can influence market sentiment. Inventory builds typically suggest a softening in demand or an increase in supply, which can exert bearish pressure on crude oil prices and related energy futures.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.