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Oil Prices Fall Despite Positive Sino-U.S. Trade News


Tuesday, 22 October 2019 12:46 WIB

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Oil prices turned lower on Tuesday in Asia despite signs of easing tensions between China and the U.S., the world's biggest oil importers.

U.S. Crude Oil WTI Futures lost 0.3% to $53.37 by 1:12 AM ET (05:12 GMT). International Brent Oil Futures also fell 0.2% to $58.84.

Oil prices traded higher earlier in the day after U.S. President Donald Trump said during a Cabinet meeting at the White House that China has begun buying American agriculture products.

However, oil markets gave up their gains and traded in the red on Tuesday afternoon. U.S. Commerce Secretary Wilbur Ross said overnight that the partial trade deal doesn't necessary has to be finalised next month, emphasizing the need to get the right deal.

Source : Investing.com


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