Oil prices were down slightly on Wednesday, pressured early by data showing big increases in U.S. refined products but recovered some of the losses later by the signing of a Phase 1 trade deal between Washington and Beijing.  Brent LCOc1 futures lost 49 cents, or 0.8%, to settle at $64 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 ended 42 cents, or 0.7%, lower at $57.81. “The bullish impetus that we had expected off of today’s weekly EIA report failed to develop and as a result, the complex appears headed for lower levels than we had anticipated despite the late session recovery,” Jim Ritterbusch, president of trading advisory firm Ritterbusch and Associates, said in a note. Under the Phase 1 trade agreement, China […]