Oil Prices Fall After US and China Reach Trade Deal Framework
Oil prices fell on Monday, pressured by scepticism that a U.S. and Chinese trade deal framework would immediately boost oil demand and after Iraq's oil minister confirmed an oilfield fire had not affected the OPEC member’s oil exports.
Brent crude futures were down 32 cents, or nearly 0.5%, to $65.62 a barrel at 1015 GMT. U.S. West Texas Intermediate crude futures were down 30 cents, also nearly 0.5%, to $61.20.
U.S. Treasury Secretary Scott Bessent said on Sunday U.S. and Chinese officials had hashed out a "substantial framework" for a...
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