On Thursday Oil dropped more than 0.9% due to a wary response regarding trade talks among the United States and China. The two countries are the world's two biggest oil buyers. They are still negotiating a deal to end their trade dispute. International Brent crude futures fell about 0.9% at $60.87 per barrel while the U.S. West Texas Intermediate (WTI) crude oil futures went down to $51.80 per barrel.
On the expectations that the US and China may shortly end their trade conflict both oil benchmarks increased by about 4.9% on the previous trading day.