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Mubasher: Oil prices fell by more than 1.5% at Monday's trading session, and Brent dropped to 60 dollars, with concerns over crude oil demand as a result of oil prices. intensification of the trade war between Washington and Beijing.
The crude oil market has been affected by trade tensions that could result in a slowdown in world economic growth and thus a reduction in the demand for oil from the two largest economies in the world.
According to press reports, China has asked its partners to suspend imports of agricultural products from Washington in response to US President Donald Trump's plan to impose 10% tariff on goods. Chinese worth $ 300 billion starting next month.
Falling oil prices lead to losses of about 800 points for the Dow Jones Industrial Average during the negotiations.
On the settlement, the US futures futures for delivery in September fell 1.7% to 54.69 dollars a barrel.
At 19:00 GMT, the benchmark Brent crude for October delivery lost 3.1% to 59.78 dollars a barrel.
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