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Oil Prices Edge Up Amid US-China Trade Tensions

Baghdad: Oil prices rose slightly in early Asian trading on Monday, amid concerns about the impact of US-China trade talks, which are casting a shadow over global growth prospects and fuel demand. Brent crude futures rose nine cents to $66.96 a barrel, and West Texas Intermediate (WTI) crude futures also rose nine cents to $63.11 a barrel. According to National Iraqi News Agency, expectations of increased supply and concerns about the impact of tariffs on the global economy caused Brent and WTI crude to fall by more than 1% last week. The market has been turbulent due to conflicting signals from US President Donald Trump and China regarding progress in calming the trade war, which threatens to dampen global growth.