WASHINGTON (dpa-AFX) - Oil prices held steady in cautious trade on Friday as leaders of Group of 20 (G20) economies gathered in Osaka, Japan to discuss possible resolutions to the trade war.
Benchmark Brent crude held steady at $65.70 per barrel while U.S. West Texas Intermediate (WTI) crude futures were up 0.1 percent at $59.47 a barrel.
The most anticipated meeting is between U.S. President Donald Trump and Chinese President Xi Jinping on Saturday amid hopes that they will reach some sort of agreement that would avoid the imposition of additional tariffs on each other's products.
The trade war issue has dragged on for almost 18 months now, fanning fears of a sharp slowdown in global economic growth that could dent demand for oil.
Investors also eagerly await next week's OPEC meeting, where OPEC and its allies including Russia are expected to roll over their current crude oil production cuts for another six months.
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