Oil prices tread water as market eyes global risks

Tokyo: Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-US trade war on the global economy, although last week’s better-than-expected US jobs data offered some support.

Brent crude futures were down 3 cents by 0300 GMT at $64.20. US West Texas Intermediate (WTI) was up 6 cents at $57.57 a barrel.

“A very cautious open this morning supported by a better than expected (non-farm payrolls),” said Stephen Innes, managing partner at Vanguard Markets in Bangkok. “Traders remain incredibly cautious about the dimmer global economic overhang.”