Oil end lower as U.S. output climbs and traders eye U.S.-China trade developments
Friday, 18 January 2019 05:11 WIB |
Oil futures finished with a modest loss on Thursday, pressured by recent data showing a weekly climb in U.S. crude production, but late news of a possible move by the U.S. to life tariffs on Beijing imports helped ease concerns over a slowdown in energy demand from China.
West Texas Intermediate crude for February delivery CLG9, -0.17% fell 24 cents, or 0.5%, to settle at $52.07 a barrel on the New York Mercantile Exchange, after an earlier dip below $51. Prices posted a modest gain of 0.4% Wednesday. March Brent crude LCOH9, -0.21% lost 14 cents, or 0.2%, to $61.18 a barrel on ICE Futures Europe.
U.S. benchmark oil futures have only posted losses in three sessions since Dec. 28, according to FactSet data.
Source : Market Watch