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Oil prices slide, slow progress in trade talks counters OPEC cuts

Reuters  |  LONDON 

By Noah BrowningLONDON (Reuters) - Oil prices fell on Monday as an uptick in U.S. drilling, a shutdown caused by a fire at a major U.S. refinery and concerns about U.S.-Chinese trade talks all overshadowed support from OPEC-led supply restraint. Benchmark Brent oil were down 71 cents, or 1.14 percent, to $61.39 a barrel at 1445 GMT. U.S. West Texas Intermediate (WTI) crude fell $1.19 cents or 2.26 percent to $51.53. "Oil prices are still trying to figure out what lead to follow. On the one hand, there is the OPEC+ cut story, now coupled with increasing issues around Venezuelan ...

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First Published: Mon, February 11 2019. 20:27 IST