Monday 12 August 2019

Oil edges down on lower demand outlook, U.S.-China trade dispute - Reuters

Oil edges down on lower demand outlook, U.S.-China trade dispute - Reuters:

Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand.

International benchmark Brent crude futures were at $58.40 a barrel by 0638 GMT, down 13 cents, or 0.2%, from their previous settlement.

U.S. West Texas Intermediate (WTI) futures were at $54.33 per barrel, down 17 cents, or 0.3%, from their last close.

Both benchmarks fell last week, with Brent losing more than 5% and WTI falling about 2%.

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