This Friday in Asia there was little change in oil prices, as traders remained cautious among the latest news on Sino-US trade war.
International Brent oil revenues grew by 0.1% to $ 67.92. Oil prices have usually been unchanged
r at $ 59.98 from 1:49 ET ET (05:49 GMT).
After the Energy Information Administration announced an unexpected surge of roughly 10 million bars last week against expectations for a 300,000-barrel building, the US crude indicator rose above $ 60 a year earlier this week
Analysts are concerned that the Chinese oil demand, which represents over 12 percent of world demand, may be adversely affected if the trade war drags on. Traders are closely watching recent news about the Sino-US trade war.
The uncertainty surrounding a potential trade deal grew earlier this week after US President Donald Trump said it would keep tariffs in China “for a considerable period of time”.
“We are not talking about their departure, we are talking about leaving them for a considerable period of time, because we need to make sure that if we make a deal with China that China is living with the deal,” Trump told reporters at the House White on Wednesday.
“They have had a lot of problems living with certain deals.”
US officials are aiming to reach an agreement with China by the end of April, the announcements said. Senior officials from the US and the Chinese will start a new round of trade talks next week in Beijing./investing.com