Oil steady as U.S.-Iran conflict eases, trade deal details elusive - Reuters

Oil steady as U.S.-Iran conflict eases, trade deal details elusive - Reuters:

Oil prices dipped slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal whose details remain to be seen.

Brent crude LCOc1 was down 15 cents at $64.83 per barrel at 1150 GMT, while West Texas Intermediate (WTI) crude CLc1 was down 8 cents at $58.96 a barrel from the previous session.

Oil prices surged to their highest in almost four months after a U.S. drone strike killed an Iranian commander and Iran retaliated with missiles launched against U.S. bases in Iraq. But they slumped again as Washington and Tehran retreated from the brink of direct conflict last week.

Global benchmark Brent touched $71.75 per barrel last week before ending on Friday below $65.