Oil Prices Slip, But Tightening Supply Outlook Supports

Crude oil prices slipped on Monday after gains of about 3 per cent in the previous session, but they were buoyed by expectations of tightening supply and signs that China-US trade tensions could ease. 

US West Texas Intermediate (WTI) futures were at $55.06 per barrel at 0122 GMT, down 20 cents, or 0.36 per cent, from their last settlement. WTI settled 2.73-per cent higher in the last session at its strongest closing level since Nov. 19. 

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