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

Oil slips 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 55 cents to $58.70 a barrel by 1338 GMT, while U.S. benchmark WTI crude was down 38 cents at $54.72 a barrel. Activity was thin due to the U.S. Labor Day public holiday.

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.