MTECHTIPS;-Oil prices mixed; Brent eases as trade tensions weigh

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MTECHTIPS;-Oil prices mixed; Brent eases as trade tensions weigh

MTECHTIPS-Oil prices were mixed on Monday with U.S. benchmark WTI nudging higher after four weeks of declines, while Brent began the week lower as the fallout from trade tensions weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $68.84 a barrel by 0309 GMT. WTI fell 1.3 percent on Friday. Brent crude futures fell 5 cents to $74.24 a barrel, after notching up a 1.7 percent weekly increase last week, the first gain in four weeks. The U.S. economy grew at its fastest pace in nearly four years in the second quarter, but trade tensions remain high between Washington and Beijing despite an easing between the United States and the EU. “Concerns around the U.S.-China trade wars continue to weigh on prices, while the halt in Saudi shipments through the Red Sea waterway has seemingly failed to provide a bullish fillip,” said Stephen Innes, head of trading APAC at OANDA Brokerage. Saudi Arabia last week said it was suspending oil shipments through the Red Sea’s strait, one of the world’s most important tanker routes, after Yemen’s Iran-aligned Houthis attacked two ships in the waterway

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