Oil prices little changed, cautious mood ahead of U.S.-China trade talks - Reuters

Oil prices little changed, cautious mood ahead of U.S.-China trade talks - Reuters:

Oil prices were mixed on Monday with traders pegging cautious hopes for a rebound from last week’s losses on progress in talks on ending the U.S.-China trade war, against a backdrop of global economic slowdown weighing on future oil demand.

Brent crude futures LCOc1 edged down 1 cent to $58.36 a barrel by 0656 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was at $52.85, up 4 cents. 


Both contracts ended last week with a more-than-5% decline after dismal manufacturing data from the United States and China, as the lingering row between the world’s top economies hurts global growth and raises the risk of recession.