Brent oil held steady near $70 a barrel on Wednesday as record Chinese imports a...
LONDON - Brent oil held steady near $70 a barrel on Wednesday as record Chinese imports and tighter global supplies eased concerns about a deepening trade spat between the United States and China.
“It has been a less than auspicious start to the month for the energy complex. Oil prices had rallied about 40 percent since the beginning of the year but the move higher has for now been put on the back burner,” said Stephen Brennock, analyst at London-based oil brokerage PVM. “The focus now will be on the two days of talks in Washington scheduled to take place between U.S. and Chinese officials,” said Jasper Lawler, head of research at futures brokerage London Capital Group.
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