{"id":61920,"date":"2026-05-14T03:38:43","date_gmt":"2026-05-14T07:38:43","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-oil-slips-below-100-on-xi-trump-talks-as-india-inflation-surges-to-8-3\/61920\/"},"modified":"2026-05-14T03:38:43","modified_gmt":"2026-05-14T07:38:43","slug":"global-markets-oil-slips-below-100-on-xi-trump-talks-as-india-inflation-surges-to-8-3","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-oil-slips-below-100-on-xi-trump-talks-as-india-inflation-surges-to-8-3\/61920\/","title":{"rendered":"Global Markets: Oil Slips Below $100 on Xi-Trump Talks as India Inflation Surges to 8.3%"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. oil futures<\/strong> dropped <strong>$1.15<\/strong> to settle at <strong>$99.87\/bbl<\/strong> as trade optimism emerged from the <strong>Xi-Trump summit<\/strong> in Beijing.<\/li>\n<li><strong>India&#39;s wholesale inflation (WPI)<\/strong> skyrocketed to <strong>8.30%<\/strong> in April, far exceeding the <strong>5.50%<\/strong> estimate and the previous month&#39;s <strong>3.88%<\/strong>.<\/li>\n<li><strong>Hon Hai Precision Industry (<a href=\"\/stock\/HNHPF\">HNHPF<\/a>)<\/strong> posted a strong <strong>Q1 net income of NT$49.92B<\/strong>, beating analyst expectations despite a slight revenue miss.<\/li>\n<li>The <strong>Russia-Ukraine ceasefire<\/strong> has officially collapsed, with the <strong>Financial Times<\/strong> reporting a barrage of renewed missile and drone strikes.<\/li>\n<li><strong>UK Chancellor Rachel Reeves<\/strong> warned that a potential leadership challenge by <strong>Wes Streeting<\/strong> would plunge the country into &quot;chaos&quot; and paralyze the government.<\/li>\n<\/ul>\n<p><strong>U.S. crude oil futures<\/strong> fell below the critical <strong>$100<\/strong> threshold on Thursday, settling at <strong>$99.87\/bbl<\/strong>. <em>Market sentiment shifted toward optimism<\/em> as Chinese President <strong>Xi Jinping<\/strong> praised significant trade progress during high-stakes summit talks with <strong>Donald Trump<\/strong>.<\/p>\n<p><strong>India&#39;s<\/strong> wholesale price index (WPI) shocked markets by surging to <strong>8.30%<\/strong> in April, a massive jump from the <strong>3.88%<\/strong> recorded in March. This spike was primarily driven by soaring fuel and power costs, which jumped to <strong>24.71%<\/strong>, alongside an <strong>88.06%<\/strong> surge in crude petroleum prices.<\/p>\n<p><strong>Spain&#39;s<\/strong> final inflation data for April confirmed a steady <strong>3.2%<\/strong> year-over-year increase, matching preliminary estimates. While the <strong>Core CPI<\/strong> remained stable at <strong>2.8%<\/strong>, the <strong>EU Harmonized Index<\/strong> accelerated to <strong>3.5%<\/strong>, reflecting ongoing price pressures in the broader Eurozone.<\/p>\n<p><strong>Hon Hai Precision Industry (<a href=\"\/stock\/HNHPF\">HNHPF<\/a>)<\/strong>, also known as Foxconn, reported a <strong>Q1 net income of NT$49.92B<\/strong>, surpassing the <strong>NT$48.43B<\/strong> estimate. Despite revenue of <strong>NT$2.12T<\/strong> coming in slightly below the <strong>NT$2.15T<\/strong> forecast, the company issued a positive outlook, projecting growth for both Q2 and the full 2026 fiscal year.<\/p>\n<p>Geopolitical tensions escalated as the <strong>Russia-Ukraine ceasefire<\/strong> collapsed, leading to renewed missile and drone attacks across Ukraine. Simultaneously, Iranian Foreign Minister <strong>Abbas Araghchi<\/strong> claimed Iran has not obstructed the <strong>Strait of Hormuz<\/strong>, instead accusing the <strong>United States<\/strong> of imposing an illegal naval blockade.<\/p>\n<p>In the equity markets, Australia\u2019s <strong>S&amp;P\/ASX 200<\/strong> index managed a modest gain of <strong>0.12%<\/strong> to close at <strong>8,640.70<\/strong>. Meanwhile, in the <strong>United Kingdom<\/strong>, the <strong>Chancellor<\/strong> warned that a looming leadership challenge against Prime Minister <strong>Keir Starmer<\/strong> would create deep political instability at a critical economic juncture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. oil futures dropped $1.15 to settle at $99.87\/bbl as trade optimism emerged from the Xi-Trump summit in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[8803,289,8811,1947,4223,4279,4824,5248,7757,7854,8696],"class_list":["post-61920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-hon-hai","tag-wpi","tag-2317-tw","tag-oil","tag-inflation","tag-hnhpf","tag-geopolitics","tag-uk-politics","tag-asx200","tag-foxconn","tag-spain-cpi"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=61920"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=61920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=61920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=61920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}