Oil prices retreated on Thursday as a spat over Hong Kong added to worries of a ...
SINGAPORE - Oil prices retreated on Thursday as a spat over Hong Kong added to worries of a delay in any U.S.-China trade deal, after posting steep gains in the previous session on bullish U.S. crude inventory data.
Brent crude futures LCOc1 fell 25 cents, or 0.4%, to $62.15 a barrel by 0138 GMT. The international benchmark rose 2.5% on Wednesday. “I view the deal as massive. A trade deal would allow held-back business investment decisions to move forward and possibly turn around the faltering momentum in Indian oil import demand, which could soak up a large portion of the supply glut.”
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