Oil prices fall 1 percent; slow progress in trade talks counters OPEC cuts | Reuters

Oil prices fall 1 percent; slow progress in trade talks counters OPEC cuts | Reuters:

Oil prices fell about 1 percent on Monday as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint.

Brent crude futures lost 49 cents, or 0.8 percent to $61.61 a barrel by 12:53 p.m. EST (1753 GMT).

U.S. West Texas Intermediate (WTI) crude fell 65 cents, or 1.2 percent, to $52.07 a barrel.