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Oil rises as China, U.S. set for trade talks, but markets weary of slowing demand


Thursday, 16 August 2018 13:08 WIB

Minyak WTIMinyak jenis Brent


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Oil prices on Thursday recouped some of the previous day's losses after Beijing said it would send a delegation to Washington to try to resolve trade disputes between the United States and China that have roiled global markets.

Brent crude oil futures LCOc1 were at $71.03 per barrel at 0455 GMT, up 27 cents, or 0.4 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 5 cents at $65.06 a barrel, held back somewhat by rising U.S. crude production and storage levels.

Both benchmarks lost more than 2 percent during the previous day’s trading.

Reuters


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