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Oil prices fell on Friday, pulling back from two-month highs, as concern over stalled U.S.-China trade talks overshadowed expectations that OPEC+ would extend production cuts. Brent settled at $63.57 a barrel and WTI at $57.77.
Chinese President Xi said Beijing wants an initial trade pact but is prepared to retaliate if necessary.
Doubts over a US-China trade deal weaken the demand outlook for crude, which pressures prices even when supply-side support is expected. For feed buyers, lower energy prices also ease costs for biofuel feedstocks and freight.
cnbc.comReutersNov 22, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
