Oil hovers around $60 as U.S.-China trade tensions weigh

Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but ...

LONDON - Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near seven-month lows around $60 a barrel due to escalating trade tensions between China and the United States.

The United States also responded to a decline in China’s yuan on Monday by branding the country a currency manipulator. “Brent at $60 a barrel is an important support level. It would be difficult for Brent to collapse below this level unless there is a further collapse in equities.”

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