New York-Sana
Oil prices retreated after a sharp increase in US crude inventories as well as fears of a possible delay to settle the trade dispute between Beijing and Washington.
Reuters reported that the settlement price of US West Texas Intermediate crude oil futures contract was set at $ 55.06 a barrel, down 48 cents, or 0.9 percent.
Brent crude fell 98 cents, or 1.6 percent, to close at $ 60.61.
Crude stocks, excluding the strategic oil reserves, rose 5.7 million barrels, while analysts expected a rise of 494,000 barrels, the Information Administration said.