Crude Oil Prices Decline

Oil prices dropped today during the Asia trading hours despite some good from the U.S. and China on trade talk progress.

On the other side, some reports indicated that China’s opposition to the Trump administration's tariffs has been a major obstacle to overcome.

Presently, oil trades at $58.20, which is a gain of $0.32 or 0.55% from the previous close of 57.88.

The daily range is from $57.75 to 58.29, while the trading volume is 76.453K.

Moreover, China’s Ministry of Commerce top officials are working closely with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Furthermore, API is expected to announced its weekly inventory at 21:30 GMT. This will provide some market directions, which are likely to demonstrate that crude oil stockpiles fell 300,000 barrels during the week-ending November 21. This could become the first retreat in the last five weeks in case its takes place.