Oil trims gains ahead of US drilling data

Oil prices rose during today's trading but trimmed gains, on the renewed concern over the US-Beijing trade war and their impact on demand, ahead of US drilling data.

The Baker Hughes oil for services will later announce the number of oil and gas drilling rigs in America this week.

Separately, the dollar index (against a number of major currencies) fell by 0.2% to 97.6 points as of 16:11 GMT, reaching a high of 97.9 points and a low of 97.6 points.

The impact of the trade war remains clear despite the comments by US President Donald Trump that a trade deal with China can be reached including a resolution to Huawei dispute.

By 16:11 GMT, West Texas by 0.1% to $57.9 a barrel, the highest price at $58.9 and the lowest price at $57.5.

Brent rose 0.25% to $67.9 a barrel, reaching a high of $68.9 and a low of $67.3.