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 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.

Early in the session, both Brent crude LCOc1 and West Texas Intermediate (WTI) CLc1 rose more than 1%. But at settlement, Brent was down 11 cents, or 0.2% at $58.24 a barrel while WTI CLc1 fell 12 cents, or 0.2%, at $52.63.

Prices extended losses slightly in post-settlement trade after American Petroleum Institute data showed U.S. crude inventories rose by 4.1 million barrels in the week ended Oct. 4, far surpassing the 1.4 million barrels analysts had forecast.