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Oil Prices Fall Amid U.S.-China Trade Impasse
Monday, 13 May 2019 07:57 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil futures edged down on Monday, pressured by fears over global economic growth amid a standoff in Sino-U.S. trade talks.

Brent crude futures were at $70.49 a barrel at 0013 GMT, down 12 cents, or 0.2 percent, from their last close. Brent ended the previous session little changed.

U.S. West Texas Intermediate (WTI) crude futures were at $61.31 per barrel, down 27 cents, or 0.4 percent, from their previous settlement. WTI closed the last session steady on the day.

The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any œbitter fruit that harmed its interests.

The trade conflict between the world™s top two economies escalated on Friday, with the United States hiking tariffs on $200 billion worth of Chinese goods after President Donald Trump said Beijing œbroke the deal by reneging on earlier commitments made during months of negotiations.

Source : Reuters

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