Oil prices slipped for a third consecutive session on Wednesday as the prospect of the US and China striking a trade deal in talks this week dimmed, raising uncertainties for global economic growth and oil demand.
US industry data showing a bigger-than-expected rise in stockpiles at the world’s top oil producer also depressed prices: Brent crude futures fell 27 cents, or 0.5 per cent, to $57.97 a barrel by 0148 GMT, while US West Texas Intermediate crude was at $52.38, down 25 cents or 0.5 per cent.
Negotiators from the world’s top two economies will meet in Washington on Thursday and Friday in the latest effort to hammer out a deal aimed at ending a long-running trade dispute that has slowed global economic growth.
