Oil Prices Steady as Markets Await Chinese Economic DataSingapore, 19 May (ONA) — Oil prices today stabilized in early Asian trading, as markets await key economic data from China to assess the potential impact on the country’s demand for commodities following trade tensions with the United States.
Brent crude futures fell by five cents to $65.36 per barrel, while US West Texas Intermediate (WTI) crude futures rose by three cents to $62.52 per barrel.
Both benchmarks rose by more than one percent last week after the United States and China, the world’s two largest economies and oil consumers, agreed to a 90-day pause in their trade war, during which they will significantly reduce tariffs.
China is scheduled to release a set of economic data, including industrial production figures, later today. — Ends/Khalid
