Oil falls as U.S., China add more tariffs in trade war - Reuters

Oil falls as U.S., China add more tariffs in trade war - Reuters:

Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude.

Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel by 0620 GMT, while U.S. oil was down 2 cents at $55.083 at barrel.

The United States began imposing 15% tariffs on a variety of Chinese goods on Sunday - including footwear, smart watches and flat-panel televisions - as China put new duties on U.S. crude, the latest escalation in a bruising trade war.