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Oil Prices Edge Up on U.S.-China Trade Optimism, But Demand Concerns Cap


Tuesday, 22 October 2019 08:38 WIB

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Oil prices steadied a little on Tuesday, supported by signs of progress in talks on resolving the U.S.-China trade dispute, but gains were contained by lingering anxiety a slowdown in the global economy could hurt crude demand.

Brent crude futures were at $59.10 a barrel by 00:27 GMT, up 14 cents, or 0.2%, from their previous settlement. Brent settled down 0.8% at $58.96.

U.S. West Texas Intermediate (WTI) crude futures advanced 18 cents, or 0.3%, from their last close to $53.49 per barrel. In the previous session, WTI settled 0.9 lower at $53.31 a barrel.

U.S. President Donald Trump on Monday said efforts to end a U.S. trade war with China were going well as negotiators from the two nations work to nail down a Phase 1 trade deal text for their leaders to sign next month when they meet at November's APEC summit.

Source : Reuters


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