Oil steadies after Trump extends EU trade talks deadline

LONDON, May 26 (Reuters): Oil prices traded around flat on Monday after US President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about US tariffs on the bloc that could hit fuel demand.

Brent crude futures were unchanged at $64.78 a barrel by 1234 GMT while US West Texas Intermediate crude slipped 4 cents to $61.49 a barrel.

Both contracts had traded higher earlier in the session after Trump said he agreed to extend a deadline for trade talks with the European Union until July 9. "Trump's pivot, by postponing higher tariffs for the EU, are moderately supporting crude prices today," UBS analyst Giovanni Staunovo said.