Oil prices fall 1 percent; slow progress in trade talks counters OPEC cuts
Brent crude futures lost 49 cents, or 0.8 percent to $61.61 a barrel by 12:53 p.m. EST (1753 GMT). U.S. West Texas Intermediate (WTI) crude fell 65 cents, or 1.2 percent, to $52.07 a barrel. Trade talks between the United States and China resumed with working level discussions before high-level discussions