Oil Stalls as U.S. Is Said to Fear China Pushback in Trade Talks

Even as WTI gained 30% in 2019, yet to hit $60 a barrel
U.S. crude stockpiles declined 2.13 million barrels: API

An OPEC flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, June 2, 2016. Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead.Photographer: Bloomberg/Bloomberg

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By Ben Foldy

March 18, 2019 at 10:45 PM UTC

Updated on

March 19, 2019 at 9:01 PM UTC

This article is for subscribers only.

Oil’s rally stalled after some U.S. officials were said to fear a Chinese pushback in trade negotiations between the world’s two largest energy consumers.

Futures were little changed at the close in New York after erasing earlier gains as new concerns over the trade talks cast a shadow over the outlook for global growth and demand for crude. An American Petroleum Institute report that was said to show U.S. crude stockpiles declined 2.13 million barrels last week wasn’t enough to lift prices much in after-hours trading.