Oil prices slide as hopes fade for any significant progress in high-level US- China trade talks set to start later on Thursday
High-level trade discussions between the two sides are set to start later on Thursday. But, according to media reports the pair had made no progress in preliminary, lower-level talks.
Global benchmark Brent crude futures LCOc1 fell 26 cents, or 0.5%, to $58.05 a barrel by 0133 GMT, while US West Texas Intermediate crude CLc1 was at $52.38 per barrel, down 21 cents, a 0.4% drop.
US President Donald Trump expressed optimism on Wednesday, saying there was a very good chance the two sides will reach a trade agreement. But with high-level trade discussions set to start later on Thursday, the South China Morning Post reported the pair had made no progress in preliminary, lower-level talks.
“Traders likely have their finger to the wind trying to gauge the intensity of the latest headwinds but at minimum prices could be capped until the markets get some type of favourable headline tailwind at least,” Innes said
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) has granted Nigeria a higher oil output target under an OPEC-led supply cut deal, lifting the quota to 1.774 million barrels per day (bpd) from 1.685 million bpd, three OPEC delegates with knowledge of the matter said.Read more: TRT World
China thinks the US is trying to stop its rise: Former US ambassador to China China thinks the U.S. is trying to stop its rise, this former U.S. ambassador to China says. “That’s going to make it much more difficult, not just in trade talks, but the general relationship.” We are trying to stop it’s rise. And we should be. Totalitarianism cannot be preeminent form of government on Earth. We should be working day and night with our allies to come up with ways to bring down China and pressure them into changing their murderous communist ways. another dem obama guy. disregard. “China thinks the U.S. is trying to stop its rise” China thinks?!!!! They should know it by now!
Oil falls on concerns over U.S.-China trade talksOil prices fell on Tuesday as Washington's blacklisting of more Chinese com...
Oil ends slightly lower as expectations fade for progress in U.S.-China trade talksOil futures ended slightly lower Tuesday as optimism faded over prospects for progress in high-level U.S.- China trade talks set for later this week. West...
Oil prices extend slide to third straight day, U.S.-China trade doubts growOil prices slipped for a third consecutive session on Wednesday as the prospect ... But California has record high gas prices. 🤔GavinNewsom 🤡 Can’t “we” as in the rest of the world just ignore the US and China as if they don’t exist and carry on with a normal life? It seems these 2 create most of the problems. ImpeachTrump
Oil prices dip for third day as U.S.-China trade doubts growOil prices slipped for a third consecutive session on Wednesday as tensions esca... So why did I pay $4.15 a gallon of regular today?
Oil prices drop as hopes for U.S.-China trade progress wiltOil prices slid on Thursday as hopes faded for any significant progress in U.S.-... This an old Tweet... Deal agreed to tonight & will be announced this week. 4000磅！