Oil falls amid new round of tariffs in U.S.-China trade war
Monday, 2 September 2019 08:41 WIB | ENERGY |BrentMinyak WTI

Oil prices fell 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 was down 42 cents, or 0.7%, at $58.83 a barrel by 0041 GMT, while U.S. oil was down 27 cents, or 0.5%, at $54.83 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.

U.S. President Donald Trump said the sides would still meet for talks later this month.

Source: Reuters

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