U.S. oil prices steadied on Monday in Asia as Sino-U.S. trade talks continued to dominate markets action.
U.S. Crude Oil WTI Futures inched up 0.2% to $57.90 by 12:35 AM ET (04:35 GMT). International Brent Oil Futures was unchanged at $62.37.
While Reuters said the signing of the phase one trade deal might slide to next year, U.S. national security adviser Robert O'Brien said this weekend that the agreement with China is still possible by the end of the year.
In an attempt to address one of the stick points in trade talks, China said on Sunday that it will raise penalties on violations of intellectual property rights.
The U.S. has urged China multiple times in the past to crack down on IP theft. "This is a big step forward for potential trade negotiation if they are adopted as official policy," said CMC Markets chief market strategist MichaelMcCarthy in a Reuters report.
Source : Investing.com