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Oil Lower as Tensions Grow Ahead of U.S.-China Trade Talks


Wednesday, 9 October 2019 02:17 WIB

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Oil futures headed lower Tuesday as traders kept tabs on developments ahead of U.S.-China trade talks due later this week, which could shape expectations around demand for crude.

West Texas Intermediate crude for November delivery lost 12 cents, or 0.2%, to end at $52.63 a barrel on the New York Mercantile Exchange. December Brent crude settled 11 cents lower, down 0.2%, at $58.24 a barrel on ICE Futures Europe.

The U.S. late Monday blacklisted 28 Chinese companies due to their alleged role in human-rights violations against Muslim minorities. The move, ahead of high-level discussions between U.S. and Chinese officials on Thursday and Friday, damped enthusiasm over prospects for a breakthrough in the long-running trade dispute, weighing on stocks.

Source : Marketwatch


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