NEW YORK: Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre US fuel demand, but were still headed for sharp monthly gains.
July Brent crude futures fell 34 cents, or 1 per cent, to $34.95 a barrel by 11:15 a.m. EDT (1515 GMT). US West Texas Intermediate (WTI) crude was down 12 cents, or 0.4 per cent, at $33.59.
Both benchmarks were on course for steep monthly gains due to global production cuts and optimism over demand growth as US states and countries reopen after coronavirus-related lockdowns.