Oil falls nearly 2 percent on stocks sell-off, pares OPEC deal gains | Reuters

Oil falls nearly 2 percent on stocks sell-off, pares OPEC deal gains | Reuters:

Oil fell nearly 2 percent on Monday, echoing the weakness in global stock markets as the focus returned to demand growth concerns and crude prices erased some of the gains made last week on an OPEC-led decision to cut output.

A gauge of global equities stumbled, putting it on track for its fifth straight daily decline, as losses in Europe and Asia extended to Wall Street on new signs the U.S.-China trade spat was impacting world economic growth.

The market was also weighed down by confusion stemming from British Prime Minister Theresa May’s postponement of a parliamentary vote on her Brexit deal and sluggish data from the world’s largest economies including the U.S, China, Japan and Germany in recent days.