Oil slips as concerns over econ data offset trade deal optimism

SINGAPORE: Oil prices eased on Monday as traders took profit ahead of fresh European and US economic data, despite hopes for some resolution to the US-China trade row that has hurt global economic growth and crimped energy demand.

Prices jumped about $2 a barrel on Friday after the world’s top two economies said they had made progress on trade talks while US officials said the deal could be signed this month.

Brent crude futures for January fell 16 cents to $61.53 a barrel by 0727 GMT, while December US crude futures was at $56.04 a barrel, down 16 cents