Oil prices are mixed as all eyes turn to stalled trade negotiations
US West Texas Intermediate weaken, while Brent edges higher as traders fret over global economy amid US-China standoff
Tokyo — Oil futures were mixed on Monday, with US crude edging lower, as investors and traders fretted over global economic growth prospects amid a standoff in China-US trade talks. US West Texas Intermediate (WTI) futures were at $61.58 per barrel, down 9c, or 0.2% at 0223 GMT (4.23 SA time), from their previous settlement. WTI closed the last session steady on the day. Meanwhile Brent crude futures were at $70.73 a barrel, up 11c, or 0.2%, from their last close. Brent ended the previous session little changed. The trade conflict between the world’s top two economies escalated on Friday, with the US hiking tariffs on $200bn worth of Chinese goods after President Donald Trump said Beijing “broke the deal” by reneging on earlier commitments made during months of negotiations. The parties appeared at a deadlock over negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it will not swallow any “bitter fruit” that harms its interests....
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