Oil slips as U.S. stocks rise, but hopes for U.S.-China trade deal stem losses

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Oil eased on Wednesday following an industry report showing a surprise build in ...

SINGAPORE - Oil eased on Wednesday following an industry report showing a surprise build in U.S. crude stockpiles, but hopes surrounding the signing of the first phase of a U.S.-China trade deal prevented a bigger drop in prices.

Wednesday’s decline reversed two days of gains, with WTI climbing 1.1% through Tuesday and Brent gaining 1.4% during the period, on the expectation that China and the United States, the world’s two biggest crude oil users, would soon sign a preliminary agreement beginning an end to their 16-month trade war.

Later on Wednesday the U.S. Energy Information Administration is due to publish official inventory data. [EIA/S]

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines