The market continues to monitor the progress of trade negotiations between the US and China. Analysts note that a successful trade agreement between those two major economies could boost global economic growth, thereby increasing crude oil demand and supporting oil prices.

West Texas Intermediate (WTI) crude for July delivery decreased by US$0.31 (0.5%), reaching US$64.98 per barrel on the New York Mercantile Exchange. Brent crude for August delivery declined by US$0.17 (0.3%), settling at US$66.87 per barrel.