Oil prices fall as trade tensions hit demand outlook - Reuters

Oil prices fall as trade tensions hit demand outlook - Reuters:

Oil prices fell on Monday amid renewed global economic growth concerns after U.S. President Donald Trump vowed to escalate the trade war with China with more tariffs, which would likely limit fuel demand in the world’s two biggest crude consumers.

Brent crude futures LCOc1 had dropped 92 cents, or 1.5%, to $60.97 a barrel by 0640 GMT. 


U.S. West Texas Intermediate (WTI) crude futures CLc1 declined 73 cents, or 1.3%, to $54.93 a barrel.

Both crude benchmarks fell last week, with Brent down 2.5% and U.S. crude falling 1%.