WASHINGTON (dpa-AFX) - Oil prices were marginally lower in cautious trade on Monday as investors reacted to conflicting signals from the Trump administration over China tariff talks and waited to see how China will support its economy.
Benchmark Brent crude futures slipped 0.1 percent to $65.72 a barrel in early European trade while WTI crude futures were little changed at $63.01.
U.S. Treasury Secretary Scott Bessent said that while he interacted with Chinese counterparts during the International Monetary Fund (IMF) meetings held in Washington last week, the issue of tariffs was not discussed.
Contradicting this, Agriculture Secretary Brooke Rollins, in a television interview, asserted that the U.S. was engaging in 'daily conversations' with China regarding the tariff dispute.
Meanwhile, China denied any talks with the U.S. over tariff exemptions, calling out Washington for 'misleading' the public.
Investors now wait for the details of new Chinese stimulus from a key economic policy meeting.
China's finance minister Lan Fo'an said the country will take measures to achieve its annual economic growth target of around 5 percent despite escalating trade tensions.
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