Crude oil futures fell, expectations for progress in US-China trade talks receded

[Seoul 10th Reuters]-Crude oil futures prices fell due to Asian time trading on the 10th. The backdrop is that expectations for progress in US-China trade talks have declined.

As of 0133 GMT (Japan time 10:33 am), North Sea Brent futures <LCOc1> is $ 0.26 (0.5%) lower per barrel = $ 58.05. The US WTI <CLc1> is $ 52.38, down $ 0.21 (0.4%).

Chinese officials, diplomats, and investors have revealed to Reuters that the Chinese government has lowered expectations for significant progress in this week's trade negotiations with the United States.

US President Trump said on the 9th that the US and China are likely to reach a trade agreement. However, the Hong Kong newspaper South China Morning Post (SCMP) reported that no progress was made in US-China vice-minister trade talks held in Washington on the 7th-8th day, as a story of relevant sources.

“The new uncertainty about trade wars is putting pressure on crude oil prices,” said Stephen Ines, Asia-Pacific market strategist at Axis Trader.

“Traders are trying to figure out how strong the headwind is this time, but at least the head of the market may be suppressed until some good news comes out.”