Expect­ations of swift resolu­tion to US-China trade disput­e dashed­LONDON: Oil prices fell on Thursday, as US-China trade tensions persisted, the Chinese economy showed signs of slowing and record US production undermined OPEC-led output curbs. Brent crude was down $0.61 or 0.9% at $65.78 per barrel by 0955 GMT. US Trade Representative Robert Lighthizer also dampened expectations of a swift resolution to the trade dispute between China and the United States, after progress on key sticking points reported earlier this week had raised hopes. That reduction helped drive down US commercial crude inventories by 8.6 million barrels in the week to February 22 to 445.87 million barrels. “Crude imports into the US fell 1.6 million bpd last week, to a two-decade low,” ANZ bank said on Thursday.

Source: The Express Tribune February 28, 2019 14:03 UTC