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Oil Topples From 2-Month High on Concern Over US-China Trade Deal


Friday, 22 November 2019 18:44 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices pulled back from their highest levels in nearly two months on Friday amid lingering doubts on whether the United States and China will be able to reach a partial trade deal that would lift some pressure on the global economy.

That was more than enough to offset news of a likely extension of production cuts by major producers that drove prices higher in the previous session.

Brent crude futures dropped 34 cents, or 0.53%, to $63.63 a barrel by 0745 GMT, while West Texas Intermediate (WTI) crude futures fell 31 cents, also down 0.53%, to $58.27 per barrel.

China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing amid continued efforts to strike at least a limited deal, the Wall Street Journal reported on Thursday citing unidentified sources.

Source : Reuters


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