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Oil prices tread water as market eyes global risks


Monday, 8 July 2019 13:20 WIB

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Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week's better-than-expected U.S. jobs data offered some supprt.

Brent crude futures were down 3 cents by 03:00 GMT at $64.20. U.S. West Texas Intermediate (WTI) was up 6 cents at $57.57 a barrel.

Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.

U.S. job growth rebounded strongly in June, with government payrolls surging, the Labor Department's closely watched employment report showed on Friday, suggesting May's sharp slowdown in hiring was probably a one-off.

Source : Reuters


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