Oil edges up on prospect of U.S. interest rate cut - Reuters

Oil edges up on prospect of U.S. interest rate cut - Reuters:

Oil prices edged higher on Monday as the prospect of an expected interest rate cut by the U.S. Federal Reserve overshadowed pessimism over U.S.-China trade talks and worries about slower global economic growth.

Brent crude LCOc1 rose 7 cents to $63.53 a barrel by 11:12 a.m. EDT (1512 GMT), while U.S. West Texas Intermediate (WTI) crude CLc1 futures were up 15 cents at $56.35 a barrel.

“Prices appear to be treading water ahead of this week’s events,” said John Kilduff, partner at Again Capital Management.