Crude Surrenders Gains as Trade Talks Loom, Demand Woes Deepen - Bloomberg:
Oil surrendered the biggest gains in more than two weeks amid conflicting signals about economic growth, energy demand and geopolitical stability.
Futures settled little changed in New York on Monday. At one point during the session, crude climbed $1.25 a barrel, presenting explorers with an opportunity to lock in prices for future output through hedges.
Just days ahead of highly-anticipated trade talks between the world’s two largest economies, Chinese officials signaled reluctance to address some of U.S. President Donald Trump’s primary themes. Separately, Trump threatened to “destroy and obliterate” Turkey’s economy if Ankara takes unspecified “off limits” actions in neighboring Syria.
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