Oil prices slip, but supported by hopes trade tensions could ease

SINGAPORE: Crude oil prices slipped on Tuesday, but losses were limited as equity markets rallied and as traders hoped Sino-US trade tensions would ease.

The United States said it would extend a reprieve that permits China’s Huawei Technologies to buy components from US companies, in a sign of a slight softening of the trade war between both countries.

Brent crude had slipped 3 cents, or 0.05%, to $59.71 a barrel by 0147 GMT, after rising 1.88% on Monday.