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Oil prices edged lower on Tuesday in Asia even as tensions eased between China and the US.
US Crude Oil WTI Futures fell 0.3% to $53.37/bbl. International Brent Oil Futures also fell 0.2% to $58.84/bbl, as per investing.com.
Oil prices rose earlier on Tuesday after US President Donald Trump said during a Cabinet meeting that China has begun buying American agriculture products.
Further, Le Yucheng, China’s Vice Foreign Minister, said the two nations have achieved "some progress" in trade negotiations. “The world wants China and the United States to end their trade war,” he added.
However, oil prices fell in the wake of weak economic data across the globe.