Oil slips amid anxiety about trade talks
Brent futures drop 0.2% to $69.25 a barrel as concerns remain over progress in US-China trade negotiations
Tokyo — Oil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the US-China trade talks. International benchmark Brent futures dropped 15c, or 0.2%, to $69.25 a barrel by 0455 GMT, having touched $70.03 in the previous session, the highest since November 12. US West Texas Intermediate (WTI) crude was down 1c at $62.09. The contract fell 36c in the previous session, having hit $62.99 on Wednesday, its highest since November 7. Weighing on prices are concerns that an economic slowdown could dent fuel consumption, traders said. The US and China, the world’s two biggest oil consumers, could be close to a deal to end their trade dispute though some hurdles remain. US President Donald Trump on Thursday said the two sides were “very close to making a deal”, though the US remains hesitant to lift $250bn in tariffs that China is seeking to have removed. Prices for thermal coal and natural gas, the main power ge...
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