Oil prices slipped on Tuesday in Asia despite positive comments from the U.S. and China on trade talk progress.

The U.S. Crude Oil WTI Futures slipped 0.1% to $57.97 by 1:15 AM ET (05:15 GMT). International Brent Oil Futures also inched down 0.1% to $62.57.

The Global Times, China's state-owned newspaper, said the two nations are “moving closer to agreeing” on a phase one trade deal.

However, the newspaper noted that Beijing's insistence that Washington roll back the Trump administration's tariffs has been a major sticking point.

Also supporting markets was a statement released by China's Ministry of Commerce, which said top negotiator on trade Liu He talked with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Tuesday morning.

Source : Investing.com