Oil slips as trade concerns outweigh drop in inventories - Reuters

Oil slips as trade concerns outweigh drop in inventories - Reuters:

Oil prices fell on Wednesday as a possible delay in resolving the U.S.-China trade war overshadowed a drop in U.S. crude inventories.

Brent crude was down 7 cents, or 0.1%, at $61.52 a barrel by 0735 GMT, having fallen to as low as $61.32.

U.S. West Texas Intermediate (WTI) crude was down 15 cents, or 0.3%, at $55.39 a barrel after reaching a low of $55.16.

U.S. crude inventories fell 708,000 barrels in the week ended Oct. 25 to 436 million, compared with analysts’ expectations for an increase of 494,000 barrels, according to data from the industry group, the American Petroleum Institute.