News
Oil Steadies as Traders Parse US-China Framework Deal on Trade
Oil was little changed, as traders digested an initial agreement between the US and China to improve trade relations following talks in London.
West Texas Intermediate held near $65 a barrel, after losing 0.5% on Tuesday, while Brent settled above $66. Washington and Beijing reached a framework deal, according to Commerce Secretary Howard Lutnick, with implementation subject to presidential approvals. The sides agreed to implement a consensus reached in Geneva in earlier talks, a Chinese official said.