TOKYO - After strong gains last week, oil prices were slightly lower on Monday as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices.
West Texas Intermediate crude futures were down 16 cents, 0.3%, at $56.50 a barrel, after rising more than 5% last week, also the biggest weekly increase since Sept. 20. “But the market remains well supported on the dip,” he added, pointing to signs of progress in China-U.S. trade talks.
Hopefully California gas will drop below $4/gal!
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