Oil prices fell on Wednesday as prospects for a trade deal between the United St...
SINGAPORE - Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.
Brent crude futures LCOc1 edged down 32 cents, or 0.5%, to $61.74 a barrel by 0758 GMT, while U.S. West Texas Intermediate crude CLc1 was at $56.54, down 26 cents or 0.5%. Even as U.S. production growth slows from the breakneck pace of recent years, the world’s top oil producer will still account for 85% of the increase in global oil output to 2030, and for 30% of the increase in gas, the agency said.
In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined, a preliminary Reuters poll showed on Tuesday. The American Petroleum Institute is scheduled to release its data for the latest week at 4:30 p.m. EST on Wednesday, while the weekly report from the U.S. Energy Information Administration is due at 11:00 a.m. EST on Thursday. [API/S] [EIA/S]
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. oil sinks 1% to start weekly trade as China-U.S. trade tensions flare upOil futures head lower Monday as recent developments in Sino-American trade negotiations reignite some fears about demand for energy assets in the face of a prolonged tariff scuffle.
Read more »
Oil slips as U.S.-China trade deal hopes dwindleOil prices dipped on Wednesday as prospects for a trade deal between the United ...
Read more »
Oil drops more than 1% on concern over U.S.-China trade warOil prices fell more than 1% on Monday amid concerns over the prospects of a tra...
Read more »
Asia stocks set to trade cautiously amid US-China trade jitters and unrest in Hong KongStocks in Asia were set to trade cautiously on Tuesday amid concerns over the state of U.S.-China trade negotiations as well as a recent escalation of violence in ongoing protests in Hong Kong.
Read more »
European stocks seen lower as US-China trade concerns resurfaceEuropean stocks were seen opening lower on Wednesday amid concern that U.S.-China trade talks are stalling, while escalating unrest in Hong Kong looked set to blight the handover from Asia.
Read more »