New Delhi, Aug. 20 -- Crude oil prices slipped on Tuesday, but losses were limited as equity markets rallied and as traders hoped Sino-U.S. trade tensions would ease.

The United States said it would extend a reprieve that permits China's Huawei Technologies to buy components from U.S. companies, in a sign of a slight softening of the trade war between both countries.

Brent crude had slipped 3 cents, or 0.05%, to $59.71 a barrel by 0147 GMT, after rising 1.88% on Monday.

U.S. crude was down 15 cents, or 0.3%, at $56.06 a barrel, after gaining 2.44% in the previous session.

The extension sets a very "comforting tone" ahead of next month's U.S.-China trade talks, Stephen Innes, managing partner, VM Markets, said in a note.

"The U.S.-Chi...