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
RELATED NEWS
Oil futures end mixed as traders await confirmation of deeper production cuts
Friday, 6 December 2019 03:12 WIBOil futures ended on a mixed note Thursday, with U.S. prices settling unchanged for the session and global prices higher, as traders awaited a decision on output from major oil producers, following reports that OPEC and its allies have recommended cutting production by another 500,000 barrels a day....
Oil rises as OPEC weighs deeper output cuts
Thursday, 5 December 2019 19:00 WIBOil prices rose on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts in an effort to prop up prices and prevent a glut next year. Sources told Reuters that OPEC was seeking to increase production cuts by the group and its allies led by Russia by more than 4...
Oil futures settle sharply higher as U.S. crude supplies drop, traders await OPEC output decision
Thursday, 5 December 2019 03:17 WIBOil futures settled sharply higher on Wednesday, with U.S. prices at their highest finish in almost two weeks as U.S. government data showed the first decline in domestic crude supplies in six weeks. Traders also weighed the possibility that the Organization of the Petroleum Exporting Countries and...
Oil up nearly 2% ahead of OPEC output talks
Wednesday, 4 December 2019 19:37 WIBOil gained on Wednesday ahead of an expected extension to production curbs by OPEC and its allies, with further support from industry data showing a larger than forecast drop in U.S. crude stockpiles. Brent crude futures were up $1.13, or 1.9%, at $61.96 a barrel. U.S. West Texas Intermediate (WTI)...
U.S. oil futures up a second straight session
Wednesday, 4 December 2019 03:17 WIBU.S. benchmark oil futures settled higher for a second straight session on Tuesday as traders weighed the possibility that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will announce deeper production cuts when they meet later this week. OPEC's Joint Technica...
Australia Holds Rate as RBA Waits for Past Cuts to Flow Through
Gold jumps over 1% as Trump says trade deal could extend to 2020
Gold Prices Up; Trade Deal Might Come After 2020 Election
Gold Gains As Trump Trade Comments Boost Havens
Hang Seng Index Slips 0.2%, Weighed by Oil Majors, Banks (Review)
Hong Kong stocks end with healthy gains (Review)
Friday, 6 December 2019 04:31 WIB
Hong Kong stocks rose Thursday as trade hopes returned following a report saying US and Chinese officials were closing in on a mini deal.
The Hang Seng index added 0.59 percent, or 154.48 points, to 26,217.04.
The benchmark Shanghai Composite...