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Oil Price Fundamental Daily Forecast

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The early price action suggests worries about the supply side can wait until later in the week. Most concerns on Tuesday are about the timing of a trade deal and its impact on supply growth.

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower on Tuesday after President Donald Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election. However, losses are likely being limited by the news that OPEC and its allies may push for deeper output cuts when it meets later this week.

At 12:58 GMT,January WTI crude oilis trading $55.67, down $0.29 or -0.52% andFebruary Brent crude oilis at $60.60, down $0.32 or -0.53%.
This article was written by FX Empire's James Hyerczyk, for the full article:
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