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Oil Prices Edge Lower Ahead Of Inventory Data


Tuesday, 29 October 2019 08:58 WIB

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Oil prices edged lower in quiet trade on Tuesday as concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing, while investors awaited U.S. inventory data.

Brent (LCOc1) futures were down 3 cents at $61.54 a barrel by 01:37 GMT, having fallen 0.7% on Monday.

U.S. West Texas Intermediate (WTI) (CLc1) crude was down 9 cents at $55.72, after falling 1.5% in the previous session.

Prices rose sharply last week amid a decline in U.S. inventories and signs of an easing in the U.S.-China trade war, but worries on Monday about weaker economic growth offset hopes of a rise in oil demand even if trade talks progress.

Source : Reuters


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