Oil steady as China’s plans to boost U.S. imports counters tensions


South Belridge Oil Field is the fourth-largest oil field in California and one of the most productive in the U.S.

David McNew | Getty Images

Oil prices steadied on Monday as news that China planned to ship large volumes of U.S. crude in August and September countered rising tensions between the two countries and a delay in the review of their trade pact over the weekend.

Brent crude was down 13 cents, or 0.3%, to $44.67 a barrel, and West Texas Intermediate crude was down 4 cents, or 0.1%, to $41.97 a barrel.

The emergence of new coronavirus hot spots particularly in Europe also put pressure on fuel demand and oil prices, analysts said, while a weak dollar lent some support.

“Clearly the…


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