Oil falls but losses capped by hopes of easing trade tensions - Reuters:
Oil prices fell on Tuesday on persistent concerns over future demand, but losses were capped by optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown.
Brent crude LCOc1 was down 51 cents at $59.23 a barrel by 1339 GMT, while U.S. crude CLc1 was down 73 cents at $55.48 a barrel. Both contracts had traded in positive territory earlier in the session.
The United States said it would extend a reprieve that permits China’s Huawei Technologies to buy components from U.S. companies, signalling a slight softening of the trade conflict between the world’s two largest economies.
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