Focus Trade War, oil prices win Sino-U.S

Oil markets shifted between gains and losses last week as a delay in tariffs on some Chinese commodities sent crude prices higher, but concerns about the possibility of a recession and an increase in crude stocks put pressure on markets.

WTI crude futures rose 1.0% to $ 55.33, while Brent futures rose 1.1% to $ 59.27.

Oil prices gained in Asia on Monday after a volatile week as traders digested the latest development on the Sino-US trade front.

“I would like to see Hong Kong work in a very humanitarian way,” Trump said. “I think it would be great for the trade deal.”

U.S. President Donald Trump reiterated over the weekend that he is unwilling to strike a trade deal with China, implying he wants to see Beijing deal with ongoing protests in Hong Kong first.

The president added that he would make a decision later in the day on whether to extend a license that would allow Chinese tech giant Huawei to continue doing business with US companies.

The news came after some contradictory signals of a trade war last week. China’s finance ministry said on Thursday it must take necessary measures against recent US tariffs on $ 300 billion of Chinese imports, but the government also said it hoped to meet with Washington in half of the trade./Investing.com

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