Oil slips as lack of US-China trade talk progress frays investor nerves

SINGAPORE: US oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, exacerbated by a rise in US inventories.

West Texas Intermediate (WTI) crude fell 10 cents or 0.18 per cent to $56.95 a barrel by 0148 GMT, falling again from an eight-week high hit last Friday when hopes for the trade deal rose.

Brent crude futures were down 12 cents, or 0.19 per cent, at $62.32.