Oil prices slide as US-China tensions offset virus hope

SINGAPORE: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 percent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 percent and rose above $30 for the first time since mid-April.