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Oil volatility awaits US inventory data

UNITED STATES (OBSERVATORY NEWS)

Oil futures fluctuated at the start of trading on Tuesday, pending initial US inventory data, with the final data indicators to be released on Wednesday.

Brent contracts fell below $ 65 a barrel, at the conclusion of the Monday session, and the start of Tuesday’s session, with the anticipation situation continuing as well, to sign the first phase of the planned trade agreement between the United States and China.

By 06:29 GMT, Brent crude futures for March delivery rose 0.09 percent, or 5 cents, to $ 64.25 a barrel.

US West Texas Intermediate crude futures rose 0.04 percent, or two years, to $ 58.12 a barrel.

The US capital, Washington, is witnessing this week the signing of the first phase of the trade agreement between the United States and China, in a move that might put an end to trade tensions that affected the global economy.

On Thursday, the Chinese Ministry of Commerce announced that the Chinese Deputy Prime Minister Liu He, who heads the Chinese negotiating team with the American side, will sign the first phase of the agreement during the period from 13-15 of this month.

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