Oil prices were steady on Friday as investors braced for data expected to show China’s economic growth last year slid to its slowest pace in 29 years, holding on to gains for now after Washington and Beijing inked a long-awaited trade deal.
Brent was 3 cents higher at $64.65 by 6:53 am IST, after gaining nearly 1 per cent on Thursday. US crude was up 6 cents at $58.58 a barrel, having risen more than 1 per cent the previous session.
The Phase 1 accord between the world’s top two economies helped boosted the outlook for global trade, pushing oil prices higher on Thursday. That mood was further boosted after the US Senate approved changes to the US-Mexico-Canada Free Trade Agreement following the signing of the Phase 1 deal.
