Oil prices hold above $63 a barrel on US-China trade talks optimism
Singapore/London: Oil prices held above $63 a barrel on Monday as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war.
Brent crude futures were down 5 cents at $63.34 a barrel by 1424 GMT. West Texas Intermediate (WTI) crude was down 20 cents at $57.57.
“It is still all about trade talks,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “It seems to be dominating markets action at the moment.” A move by China to protect intellectual property was also providing a supportive atmosphere for the trade talks, McCarthy added.
