Oil prices fall more than 1 percent ahead of G20, OPEC meeting | Reuters

Oil prices fall more than 1 percent ahead of G20, OPEC meeting | Reuters:

Oil prices fell more than 1 percent on Tuesday, in conjunction with sagging stock markets after U.S. President Donald Trump threatened more tariffs on Chinese imports ahead of the coming G20 summit.

Brent crude LCOc1 futures fell $1.00 to $59.48 a barrel, a 1.7 percent loss, 12:53 p.m. EST (1753 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 84 cents to $50.79 a barrel, a 1.6 percent loss.

Prices fell to their lowest since October 2017 last week - Brent at $58.41 and WTI at $50.15.