Oil markets: US-China trade in focus


Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 5, 2018.

Benjamin Lowy | Getty Images News | Getty Images

Oil prices eased on Monday as traders remained cautious ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.China trade row that has hurt global economic growth and crimped energy demand.

Prices jumped more than 3% on Friday after the world’s two largest economies said they had made progress on trade talks while U.S. officials said the deal could be signed this month.

Brent crude futures for January fell 26 cents to $55.94 a barrel by 0125 GMT while December U.S. crude futures was at $61.42 a barrel, down 27…


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