International oil revenues Brent included 0.3% to $ 64.56 of crude oil U.S. WTI Futures traded for the last time at $ 57.64 from 12:28 ET, up 0.03%.
Overnight, numerous reports cited US Secretary of State Mike Pompeo saying “for the first time” Iranian officials “are ready to negotiate for their missile program.”
His remarks came after Trump told a Cabinet meeting that his administration had made progress with Tehran and did not want the war or regime to change there, even though he “loved them from Yemen”.
The news sent oil prices for less than 3% before it re-emerged today.
In other news, the US Oil Institute announced raw crude inventories fell by 1.4 million barrels a week to 12 to 460 million euros, compared to analysts’ expectations for a 2.7m barrel decline.
Official data should be released later by the US Government‘s Energy Information Administration, which is expected to report a crude 3.38m barrel withdrawal last week, according to a analyst consensus followed by Investing.com. Last week, the EIA reported a 9.5m barrel cut.
In front of Sino-US trade, concerns over Sino-Washington trade developments reappear today after Trump said there is still a long way to reach an agreement with China.
Trump said, “We have a long way to go to the tariffs where China is concerned if we want. We have another $ 325 billion that we can set a fee if we want.” So we’re talking to China about an agreement, but I wish they did not break the agreement we had. ”
At the White House cabinet meeting, the president said China had to buy agricultural products in the US and its administration was watching to see if Beijing would do so./Investing.com