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Oil steady with supply tight, but U.S.-China trade war threatens demand

The Address | Benghazi – Libya

LONDON – Oil prices were steady on Monday as U.S.-China trade tensions continued to threaten demand for oil, but tight crude supply and the swift end to a trade dispute between Mexico and the United States offered support.

Front-month Brent crude futures were at $63.42 at 0850 GMT, 13 cents, or 0.21%, above Friday’s close.

U.S. West Texas Intermediate (WTI) crude futures were at $54.19 per barrel, up 20 cents, or 0.37%.

A deal between the United States and Mexico to combat illegal migration from Central America late last week removed the threat of U.S. tariffs on goods imported from Mexico, buoying markets on Monday.

Reuters

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