Oil prices fall slightly ahead of US-China trade talks

Oil drilling rigs

Oil prices slipped in early trade today, June 9, as markets awaited bilateral trade talks between the world's two largest economies, scheduled to take place in London later in the day.

Brent crude was trading down 0.1% at $66.40 a barrel, at 08:03 am Makkah time. West Texas Intermediate (WTI) crude fell 0.1% to $64.52 a barrel.

Three top aides to US President Donald Trump are scheduled to meet with their Chinese counterparts today, in the first meeting on US-China economic and trade negotiations, Reuters reported.

According to Customs data, the world's largest buyer of crude oil imported 46.6 million tons in May, equivalent to 10.97 million barrels per day (bpd), a 3% decrease month-on-month and the lowest daily level in four months.