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11/8, 9:15 AM (Source: TeleTrader)
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Oil slips following trade-driven rally

Crude prices were lower on Friday following a jump in the previous session on the back of positive trade news.

The United States-China trade deal remained in focus as conflicting reports emerged whether the two countries would cancel existing tariffs on each other's goods. The signing of the long-awaited phase one trade agreement could be delayed until December as inking the trade truce was originally scheduled for the canceled Asia-Pacific Economic Cooperation summit in Santiago, Chile.

Brent for January settlement was down 0.82% to $61.75 a barrel at 3:15 am ET. At the same time, West Texas Intermediate futures for December fell 1.03% to $56.54 a barrel.

Breaking the News / JC