Oil prices traded flat on Wednesday as fading hopes for progress in U.S.-China t...
LONDON - Oil prices traded flat on Wednesday as fading hopes for progress in U.S.-China trade talks pressured the market by raising uncertainty about global economic growth, while unrest in OPEC members Iraq and Ecuador helped limit losses.
Negotiators from the United States and China, the world’s top two economies, will meet in Washington on Thursday in the latest effort to hammer out a deal aimed at ending a long-running trade dispute that has slowed global growth. In the United States, meanwhile, crude stockpiles rose by 4.1 million barrels in the week ended Oct. 4 to 422 million, data from the American Petroleum Institute showed on Tuesday. Analysts had expected an increase of 1.4 million barrels.
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