# Oil pulls back from 2-month highs on China trade worries

> 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.

- Date: 2019-11-22 · published 2019-11-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56229-oil-pulls-back-from-2-month-highs-on-china-trade-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

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.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2019/11/22/oil-markets-us-china-trade-war-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.