Oil prices were steady on Tuesday, hanging onto gains from the previous session, after comments from the United States and China kept alive hopes that the world’s two largest economies are soon to agree on ending their trade war.
Brent crude futures were down 1 cent at $63.64 at 0331 GMT, after rising 0.4 per cent in the previous session. West Texas Intermediate crude futures fell 5 cents at $57.96, having risen 0.4 per cent on Monday.
Top trade negotiators from China and the United States held a phone call on Tuesday morning, China’s Commerce Ministry said, as the two sides try to hammer out a preliminary “phase one” deal in a trade war that has dragged on for 16 months.
