Oil slips as lack of U.S.-China trade talk progress

Oil slips as lack of U.S.-China trade talk progress

19 Nov 2019 09:34 AM
 
U.S. oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, exacerbated by a rise in U.S. inventories. West Texas Intermediate crude fell 10 cents or 0.18% to $56.95 a barrel, falling again from an eight-week high hit last Friday when hopes for the trade deal rose. Brent crude futures were down 12 cents, or 0.19%, at $62.32. A Chinese government source was quoted by broadcaster CNBC on Monday as saying there was gloom in Beijing about prospects for a trade deal, with Chinese officials troubled by U.S. President Donald Trump's comment that there was no agreement on phasing out tariffs.

 

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