Oil Slips as Make-or-Break U.S.-China Trade Talks Get Underway
Friday, 10 May 2019 07:24 WIB | COMMODITY |MinyakWTIBrent

Oil edged lower as the latest round of U.S. and China trade talks got underway just hours before the Trump administration is set to slap tougher tariffs on Chinese goods, a move that™ll deepen a conflict overhanging the global economy.

Futures in New York were slightly softer, adding to a 0.7% decline Friday. Chinese Vice Premier Liu He arrived in Washington Thursday for two days of talks. U.S. President Donald Trump said a deal was still possible, but reiterated plans to raise tariffs on some $200 billion of Chinese goods from Friday.

West Texas Intermediate crude for June delivery was 2 cents lower at $61.68 a barrel on the New York Mercantile Exchange as at 8:34 a.m. Sydney time.

June WTI slid 42 cents to settle at $61.70 a barrel Thursday.

Brent for July settlement gained 2 cents to $70.39 a barrel on the London-based ICE Futures Europe exchange.

Source : Bloomberg

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