Oil prices fall 1% as economic worries outweigh tanker tensions - Reuters

Oil prices fall 1% as economic worries outweigh tanker tensions - Reuters:

Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand.

Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI) crude futures fell 58 cents to settle at $51.93 a barrel, a 1.10 percent loss. 


Prices have fallen around 20% since a 2019 high reached in April, in part due to concerns about the U.S.-China trade war and disappointing economic data.