Oil prices steady amid hopes for end to US-China trade war
Oil prices were steady on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in US crude inventories, while trade tensions eased as Washington and Beijing agreed to hold high-level talks next month.
Brent crude was down 3 cents at $60.92 a barrel by 0850 GMT, while US West Texas Intermediate (WTI) crude was down 10 cents at $56.20 a barrel.
Brent is set to mark its fourth weekly gain, while US crude is headed for a second weekly rise.
Beijing and Washington on Thursday agreed to hold high-level talks in early October in Washington, cheering investors hoping for an end to the trade war between the world’s two biggest economies that has brought tit-for-tat tariff hikes, chipping away at economic growth.
