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Oil Dips After Three Days of Gains


Friday, 30 August 2019 08:24 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices eased on Friday after three days of gains, with concerns about the state of the global economy amid the U.S.-China trade war keeping prices in check.

U.S. oil fell 6 cents, or 0.1%, to $56.65 a barrel by 0050 GMT. The contract is heading for a gain of more than 4% this week, boosted by a decline in U.S inventories and the approach of a hurricane toward Florida.

Brent crude was down 10 cents, or 0.2%, at $60.98, after adding 1% on Thursday.

Worries about a slowdown in economic growth due to the U.S.-China trade war and the flow-on to oil demand have kept a lid on price gains, even as falling inventories indicate a balancing market.

China's commerce ministry said on Thursday the world's two biggest economies were discussing the next round of face-to-face trade talks scheduled for September, but hopes for progress hinged on whether Washington could create favorable conditions.

Source : Reuters


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