Oil falls as spectre of US-China trade war haunts market

TOKYO: Oil futures fell on Friday as optimism over an end to the US-China trade war faded, leaving prices set for a weekly loss after days of wild gyrations.

Brent crude was down 17 cents, or 0.3 per cent, at $60.21 a barrel by 0053 GMT, while US West Texas Intermediate (WTI) was off by 14 cents, or 0.3 per cent, at $54.95.

Brent has traded in a range of nearly $5 this week and is heading for the first weekly loss in five. US crude has traded similarly and is heading for its first loss in three weeks.