Brent edges away from the $70 mark reached the previous day, as concern about US-China negotiations weighs on sentiment
Brent futures drop 0.2% to $69.25 a barrel as concerns remain over progress in US-China trade negotiationsAn oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France. Picture: REUTERS/CHRISTIAN HARTMANNOil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the US-China trade talks.
US President Donald Trump on Thursday said the two sides were “very close to making a deal”, though the US remains hesitant to lift $250bn in tariffs that China is seeking to have removed. Brent has gained nearly 30% in 2019, while WTI has risen nearly 40%, underpinned by production cuts and US sanctions against Iran and Venezuela.
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