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Oil prices fall; slow progress in trade talks counters OPEC cuts

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil prices fell about $1 a barrel on Monday as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint.Brent crude futures lost $1.04, or 1.7 percent to $61.06 a barrel by 11:22 a.m. EST (1622 GMT).U.S. West Texas Intermediate (WTI) crude fell $1.33, or 2.5 percent, to $51.39 a barrel.Trade talks between the United States and China resumed with working level discussions before high-level discussions later in the week.While Beijing struck an upbeat note, it also expressed anger at a U.S. Navy ...

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First Published: Mon, February 11 2019. 22:12 IST