Singapore — Oil prices on Thursday recouped some of the previous day’s losses after Beijing said it would send a delegation to Washington in an attempt to resolve trade disputes between the US and China that have roiled global markets. US West Texas Intermediate (WTI) crude futures traded at $65.11 a barrel at 2.09am GMT, up 10c, or 0.15%, from their last settlement. International Brent crude oil futures were up 41c, or 0.6%, at $71.17 a barrel. Both benchmarks lost more than 2% the previous day. Traders said Thursday’s market moves followed in the slipstream of a statement by China’s ministry of commerce that it would send a delegation led by vice-minister of commerce Wang Shouwen to the US for trade talks in late August. The talks are at the invitation of the US and will be held with US under secretary of treasury for international affairs David Malpass, the commerce ministry said. Still, sentiment in oil markets was broadly cautious due to a rise in US crude production and storag...
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