Oil edges down; eyes on data amid trade deal hopes

SINGAPORE: Oil prices eased on Monday as traders remained cautious ahead of fresh European and US economic data, despite hopes for some resolution to the US-China trade row that has hurt global economic growth and crimped energy demand.

Prices jumped more than 3 per cent on Friday after the world’s two largest economies said they had made progress on trade talks while US officials said the deal could be signed this month.

Brent crude futures for January fell 26 cents to $55.94 a barrel by 0125 GMT while December US crude futures was at $61.42 a barrel, down 27 cents.