Markets: Oil recovers in spite of trade tensions

Crude oil prices made modest gains on Tuesday while base metal prices edged higher as concerns that a trade row between the US and China continued to unsettle investors in commodity markets.

In energy markets, crude oil prices managed a partial recovery after falling in the previous two sessions. Nymex October West Texas Intermediate rose 44 cents to $69.30 a barrel while ICE October Brent traded 3 cents higher at $67.47.

In Shanghai, rubber futures fell to the lowest level since July after dropping by the 5 per cent daily trading limit on Monday. January rubber dropped 4.9 per cent to Rmb16,850 a tonne before trading at Rmb17,280 a tonne.

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