Oil prices eased on Monday as scant details on the first phase of a trade deal b...
SINGAPORE - Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2% at the end of last week.
“Oil is slowly giving up its recent gains as mini-trade deal scepticism is growing,” Edward Moya, senior market analyst at OANDA, said in an email. The trade war has pressured China’s trade, with its exports to the United States falling 10.7% from a year earlier in dollar terms over January-September, Chinese customs spokesman Li Kuiwen told reporters.
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