Brent crude oil futures dipped to around $64.8 per barrel on Thursday, after modest gains in the previous session, as markets focused on the ongoing US-China trade talks. The leaders of both nations are set to meet in South Korea to finalize a long-anticipated trade deal, with investors hoping that progress could ease concerns over the ripple effects of trade tensions on energy demand. The talks may also see President Trump urge Beijing to curb its purchases of Russian oil, following US sanctions on two major producers from Moscow. Meanwhile, investors are also looking forward to the OPEC+ meeting on November 2, where the alliance is reportedly considering a modest output increase for December. Oil remains on track for a third consecutive monthly decline, the longest losing streak since mid-2023, as oversupply concerns continue to weigh on prices.