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 fell 73 cents, or 1.2%, to $61.16 a barrel by 04:58 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 62 cents, or 1.1%, to $55.04 a barrel.
Both crude benchmarks fell last week, with Brent dropping 2.5% and U.S. crude falling 1%.
Asian equity markets dropped to a six-month low on Monday while gold prices climbed as investors sought safe-haven assets because of the ratcheting up of the trade dispute between China and the United States, the world's two largest economies.
Source : Reuters
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