Oil prices edged down
Geopolitical tension will be the focus for investors this week,” ANZ extruder replacement partss Manufacturers Research said in a note.Oil prices had surged after the killing of an Iranian commander by a US drone strike and the launch of Iranian missiles in retaliation, but then slumped as the United States and Iran stepped back from the brink of direct conflict.Meanwhile, expectations of thawing trade tensions between the United States and China, the world’s two biggest oil consumers, have offered support for prices.Four Iraqi soldiers were wounded on Sunday in an attack on an Iraqi air base where US troops have been based, the Iraqi military said.2 per cent, at USD 64. WTI was also down 9 cents, or 0.
Oil prices edged down on Monday as fears of conflict between the United States and Iran eased, although the decline was checked by the planned signing of an initial US-China trade deal this week, which could boost demand.95 a barrel.Global benchmark Brent touched a near four-month high above USD 70 before ending last week below USD 65, although the situation in the Middle East remains tense.Brent crude was down 13 cents, or 0.A US-China trade deal is due to be signed in Washington on Wednesday.85 per barrel at 0120 GMT.
