Oil prices gain as market awaits signals on US-China trade talks


Oil prices gain as market awaits signals on US-China trade talks

Oil prices rose on Tuesday, reversing early losses on hopes that US President Donald Trump may signal progress on trade talks with China in a speech later in the day.

Brent crude futures were up 31 cents, or 0.5 per cent, at $62.49 a barrel by 0644 GMT, after dipping to as low as $61.90 earlier in the day. US West Texas Intermediate (WTI) crude was up 23 cents, or 0.4 per cent, at $57.09 a barrel, having fallen to $56.55.

Worries about the impact on oil demand from the fallout of the 16-month US-China trade war, which has weighed on global economic growth, sent prices lower on Monday. Read More

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