Oil prices slipped on Wednesday amid concerns about a deepening trade spat between the United States and China, though record Chinese imports and tighter global supplies supported the market and limited losses.
Brent crude oil futures were down 20 cents at $69.68 per barrel. U.S. West Texas Intermediate crude futures fell 10 cents to $61.30 per barrel.
Oil prices have fallen this week due to announcements from Washington that the United States would further raise tariffs on Chinese goods on Friday. The move came after China backtracked on a wide range of core U.S. demands, Reuters reported on Wednesday.
Source : Reuters