Shafaq News / Oil prices retreated on Monday from their highest levels in nearly three months, which were recorded last week as investors looked for more clarity about the trade agreement between the United States and China, which is expected to boost flows between the two largest economies in the world.

By 0729 GMT, Brent crude futures were down ten cents, or 0.2 percent, to $ 65.12 a barrel, while WTI fell ten cents, or 0.2 percent, to $ 59.97 a barrel.

Michael McCarthy, senior market analyst at CMC Markets, said, “It appears that market prices are now fully embracing the Stage 1 trade agreement, so we will need new news if we are to break through the (technical) resistance level ahead.”