WASHINGTON (dpa-AFX) - Oil prices were little changed on Tuesday after rising sharply to hit a two-week high in the previous session on U.S.-China tariff truce.
Benchmark Brent crude futures edged up by 0.3 percent to $65.14 in early European trade while WTI crude futures were up half a percent at $62.27.
Optimism over a temporary U.S.-China tariff deal faded, with investors becoming apprehensive over whether anything durable would come out of the trade talks after a 90-day halt.
At a forum for Chinese and Latin American nations in Beijing today, China's foreign minister made critical remarks seemingly directed at the U.S.
Wang Yi stated that 'a certain major power is obsessed with the idea that might makes right'.
Elsewhere, U.S. President Donald Trump called the EU bloc 'in many ways nastier than China.'
Supply pressures also offset trade optimism, with OPEC output set to rise by 411,000 bpd in May after the cartel expanded production beyond previous estimates.
The dollar wobbled ahead of closely monitored U.S. inflation data due later in the day.
On Monday, Federal Reserve Governor Adriana Kugler said that easing trade tensions could reduce the need for rate cuts.
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