Oil eases on concerns over U.S.-China talks, weak demand signals - Reuters

Oil eases on concerns over U.S.-China talks, weak demand signals - Reuters:

Oil prices slid about 1% on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, although unrest in Iraq and Ecuador lent some support to crude prices.

Both Brent crude LCOc1 and West Texas Intermediate (WTI) CLc1 crude had risen by more than 1% earlier in the day. By 1:09 p.m. ET (1459 GMT) Brent was down 45 cents, or 0.8%, at $57.90 a barrel and WTI CLc1 was down 49 cents, or 0.9%, at $52.26.

Investors are treading cautiously before U.S.-China trade talks in Washington on Thursday. Prospects for progress dimmed after U.S. President Donald Trump said a quick trade deal was unlikely.