Oil erased gains after a US-China meeting to end the nations' trade war was said to have been pushed back.[LONDON] Oil erased gains after a US-China meeting to end the nations' trade war was said to have been pushed back.
Futures fell in New York, erasing an earlier gain of 0.7 per cent. A meeting between President Donald Trump and his Chinese counterpart Xi Jinping to sign an agreement to end their trade war is more likely to happen in April at the earliest, three people familiar with the matter said. Crude had closed at a four-month high on Wednesday after an unexpected drop in US inventories.
Crude has surged nearly 30 per cent this year as the Organization of Petroleum Exporting Countries and its allies cut production. Yet the rally has been limited by continued trade tensions between the world's two largest economies - which could hurt oil-demand growth - and record US production. West Texas Intermediate for April delivery was 14 cents lower at US$58.12 a barrel on the New York Mercantile Exchange at 10.49 am in London. The contract rose US$1.39 to US$58.26 on Wednesday, the highest close since Nov 12.Brent for May settlement lost 2 cents to US$67.53 a barrel on the London-based ICE Futures Europe exchange. The contract climbed 88 cents to US$67.55 on Wednesday. The global benchmark crude traded at a US$9.09 premium to WTI for the same month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, China driving oil demand; no April OPEC policy change: Saudi oil ministerSaudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: Saudi's Falih - US, China driving oil demand; no April OPEC policy changeSaudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Saudi's Falih: US, China driving oil demand; no April OPEC policy changeSaudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US, China to observe market forces on currencies: People's Bank of China Governor YiBEIJING (BLOOMBERG) - China and the US have reached consensus on many 'crucial' issues, including a commitment to observe market-oriented exchange rate mechanisms, People's Bank of China Governor Yi Gang said.. Read more at straitstimes.com. Drhbrteeytfftfgivv
Source: The Straits Times - 🏆 8. / 63 Read more »
US: S&P 500 eases amid US-China trade uncertainty[NEW YORK] The S&P 500 slipped on Thursday, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Exclusive: US aims to cut Iran oil exports to under 1 million bpd from May - sourcesThe United States aims to cut Iran's crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oil drops 2% as economic outlook weakens, US supply surgesOil prices dropped more than 3 percent on Friday on a worsening economic outlook after the European Central Bank warned of continued weakness and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Venezuela accuses US of 'terrorist attack' on oil facilityCARACAS: Venezuelans resumed work on Thursday (Mar 14) after a weeklong hiatus forced by an unprecedented nationwide blackout, but President ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US aims to cut Iran oil exports to under 1 million bpd from May: SourcesWASHINGTON: The United States aims to cut Iran's crude exports by about 20 per cent to below 1 million barrels per day (bpd) from May by requiring ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: Occidental emerges as heavy hitter in US oil export boomOccidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »