Oil trims gains as trade concerns resurface
Oil prices rose today the next OPEC meeting this week, but gains were capped due to renewed concerns about trade talks between the US and China.
Trump said the signing of the Hong Kong bill to support protesters doesn’t make the trade talks with China "better."
The US Commerce Secretary in Washington stated the Trump administration might impose tariffs hike against China if no trade agreement was reached.
An agreement between OPEC delegates and independent allied producer is expected this week, during the next meeting in Vienna to discuss the output cut agreement, amid expectations of a deepning cut.
As for trading, West Texas Intermediate rose 1.6% to $56.07 a barrel as of 17:44 GMT, and hit an intraday high of $56.6 and a low of $55.4.
Brent rose 1.2% to $61.2 a barrel, with a high of $62.09 and a low of $60.7.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1083
|
0.0185
|
1.6985%
|
|
|
|
|
1.2325
|
0.0138
|
1.1366%
|
|
|
|
Tadawul
|
7050.66
|
0.49
|
0.01%
|
|
|
|
|
17.397
|
0.285
|
1.669%
|
|
|
|
|
33.332
|
-0.098
|
0.293%
|
|
|
|
|
35.29
|
0.55
|
1.58%
|
|
|
|
|
1721.320
|
-6.540
|
0.379%
|
|
