Oil extends losses amid trade pessimism

Tuesday, 19. November 2019 14:18

Oil traded lower on Tuesday, continuing the downward trend from yesterday after China reportedly shared its pessimistic view of the possibility to strike a trade agreement with the United States. Negotiations between Washington and Beijing have allegedly reached a dead end amid differences over the removal of tariffs.

Brent futures for January delivery slipped 0.90% to trade at $61.74 per barrel at 8:05 am ET, while West Texas Intermediate for December delivery dropped 1.16% to $56.28 per barrel at the same time.

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