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Global futures contracts have fallen Brent 59 cents to settle at 58.66 dollars a barrel, after falling to 58.10 dollars during the day.
And the American crude went down West Texas Intermediate 33 cents to $ 54.77 a barrel.
The United States began charging 15 percent of taxes on various Chinese products – shoes, smart watches and televisions – as China imposed new rights on US crude, the latest escalation of their trade war.
US President Donald Trump said the two sides will still meet for talks this month.
Trump wrote on Twitter that his goal was to reduce the US's dependence on China, Again called on American companies to find alternatives to supply.
"BNP Paribas," said Harry Schillingorian of BNP Paribas "Even if President Trump makes it clear that the planned negotiations between the United States and China will advance, the market is preparing for a prolonged confrontation between the two countries and will turn towards central bank cash flow facilitation to enhance risk appetite. "
Beijing has imposed a 5% tariff on US crude. This is the first time that fuel has been used since the world's two largest economies embarked on a trade war in more than a year.
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Brent crude futures dropped 59 cents to $ 58.66 a barrel, after falling to $ 58.10 during the day.
WTI (West West Texas Intermediate) crude sold 33 cents to $ 54.77 per barrel.
The United States began charging 15 percent of taxes on various Chinese products – shoes, smart watches and televisions – as China imposed new rights on US crude, the latest escalation of their trade war.
US President Donald Trump said the two sides will still meet for talks this month.
Trump wrote on Twitter that his goal was to reduce US dependence on China, reiterating its call to US companies for them to find alternatives to supply.
"Even if President Trump makes it clear that the planned US-China talks will continue, the market is preparing for a prolonged confrontation between the two countries and is counting on the facilitation of central bank cash flows to strengthen the markets. Risk appetite, "said Harry Schillingorian of BNP Paribas.
Beijing has imposed a 5% tariff on US crude. This is the first time that fuel has been used since the world's two largest economies embarked on a trade war in more than a year.
