Oil prices jump after Trump says he is losing patience with Iran

TL;DR

Oil prices rose significantly on Friday.
President Trump stated he is losing patience with Iran and expects a deal.
Trump indicated that Chinese President Xi Jinping wants the Strait of Hormuz opened and agreed not to provide military equipment to Iran.
U.S. Treasury Secretary Scott Bessent suggested China will work behind the scenes to reopen Hormuz.
China's Foreign Ministry emphasized negotiations over the use of force and called for a swift resolution to the conflict.
Trump also mentioned that China agreed to buy more oil from the U.S., with shipments planned to Texas, Louisiana, and Alaska.
China has not publicly confirmed these energy purchase agreements.

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