BUSINESS NEWSNOVEMBER 28, 2019 / 4:04 AM / UPDATED 7 HOURS AGO

Oil ends mixed, pressured by U.S. tensions with China over rights bill

Bozorgmehr Sharafedin
3 MIN READ
LONDON (Reuters) – Oil prices ended mixed on Thursday, with U.S. prices rebounding modestly from concerns that arose from U.S. President Donald Trump signing into law a bill backing protesters in Hong Kong, fuelling tensions with China.

Brent crude lost 14 cents, or 0.2%, at $63.92 a barrel, paring earlier losses.

West Texas Intermediate crude reversed losses to close up 13 cents, or 0.2%, at $58.24, with many U.S. traders away for the Thanksgiving holiday.

China warned the United States that it would take “firm countermeasures” in response to U.S. legislation backing anti-government protesters in Hong Kong.

Investors are concerned that the move might delay further a preliminary agreement between the United States and China to put an end to their trade war that has slowed global economic growth, and consequently consumption of oil.

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