2020.01.1309:09:00UTC+00Oil Prices Edge Up After Missile Attack On Iraq Airbase

Oil prices edged up on Monday after a volley of rockets slammed into an Iraqi airbase north of Baghdad where U.S. forces have been based, wounding four local troops. The Iraqi military said that at least four Iraqi airmen were wounded in the attack.

Benchmark Brent crude edged up 0.35 percent to $65.20 per barrel, while West Texas Intermediate (WTI) crude futures were up 0.3 percent at $59.23 a barrel.

U.S. Secretary of State Mike Pompeo said Sunday he was "outraged" by another rocket attack after neighboring Iran signaled a wish to de-escalate tensions.

"These continued violations of Iraq's sovereignty by groups not loyal to the Iraqi government must end," Pompeo tweeted.

Investors also shifted their focus to this week's signing of an initial U.S.-China trade deal, due to be signed in Washington on Wednesday.

The deal might include a commitment from China to increase agricultural products and implement economic reforms as well as some relief to China's aquatic exports to the U.S.