Oil Prices Ease on Geopolitical Uncertainty, Weak Chinese Demand Signals

Oil prices ease on geopolitical uncertainty, weak Chinese demand signals

Brent futures were down 42 cents to $65.12 a barrel at 11:02 a.m. EDT, while U.S. West Texas Intermediate crude slid 26 cents to $62.43

Oil prices were almost unchanged on May 20 as traders assessed the impact on the proposal of a possible breakdown of talks between the United States and Iran over Tehran's nuclear program, high demand in Asia and cautious prospects for China's macroeconomy.

Oil Steadies With Focus on Russia-Ukraine and US-Iran Talks

Oil prices eased as broader financial markets weakened, while uncertainty about whether sanctions on Iran will be loosened or tightened injected choppiness into the session.

Oil prices little changed on geopolitical uncertainty, weak China demand signals

Oil prices were little changed on Tuesday (May 20) due to uncertainty in US-Iran negotiations and Russia-Ukraine peace talks, while new government data delivered a cautious outlook for top crude importer China’s economy.

Oil prices went up and down on Tuesday and finally ended in red as geopolitical uncertainty persists over negotiations over the Iranian nuclear program and war in Ukraine. The North Sea Brent barrel for delivery in July dropped 0.24% to $65.38. Its US equivalent, the West Texas Intermediate (WTI), delivered in June, lost 0.21%, to $62.56. “There are not many catalysts at this time, and the market has more questions than answers,” especially from…

WTI, Brent Edge Lower in Choppy Trade

Traders remain cautious amid mixed signals on sanctions and global supply.