Oil Steadies After Selloff on Concerns of U.S.-China Trade Clash
Yuan-denominated oil futures on the Shanghai International Energy Exchange lost 2.8 percent to 405.5 yuan a barrel. The September delivery contract closed 0.9 percent lower on Monday after debuting last week. U.S. crude inventories are estimated to have added 2 million barrels last week, according to a Bloomberg survey before Energy Information Administration data due Wednesday. The nation’s oil production had also increased for a fifth week in the period ended March 23, hitting a fresh record. Click Read More below for additional information.