Oil prices were little changed on Monday following steady gains in the previous ...
FILE PHOTO: Oil pump jacks at sunset near Midland, Texas, U.S., August 21, 2019. REUTERS/Jessica Lutz/File Photo
Brent crude futures LCOc1 were down 5 cents, or 0.1%, at $63.25 by 0119 GMT. The contract rose 1.3% last week. “Despite the larger-than-expected inventory build ... traders stayed primarily focused on U.S.-Sino trade developments where optimism continues to build,” said Stephen Innes, market strategist at AxiTrader. “The market sees a trade deal between the U.S. and China as more feasible, which is bullish for oil.”
China and United States had “constructive talks” on trade in a high-level phone call on Saturday, state media Xinhua said, but offered few other details in a report released on Sunday.
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