Wednesday 9 October 2019

Oil steady as attack in Syria supports but U.S. crude stocks weigh - Reuters

Oil steady as attack in Syria supports but U.S. crude stocks weigh - Reuters:

Oil futures were mixed on Wednesday as a Turkey-launched offensive in Syria and hopes of progress in ending the U.S.-China trade war supported oil, but a build in U.S. crude inventories held prices back.

Brent crude LCOc1 settled at $58.32 a barrel, up 8 cents, while U.S. West Texas Intermediate crude CLc1 settled at $52.59 a barrel, down 4 cents.

Later, prices fell from settlement levels after Chinese officials said Beijing has lowered expectations for progress at the trade talks this week. Negotiators from the world’s top two economies meet in Washington on Thursday in the latest effort to hammer out a deal.

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