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10/14, 7:17 PM (Source: TeleTrader)
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Crude loses over 2% amid trade unease

Prices of oil futures declined further on Monday after optimism regarding the trade deal between the United States and China subsided. Chinese Ministry of Commerce said earlier in the day that a trade deal is not so close as previously thought as the two sides have only agreed to work "in the direction of the final agreement." Before that, media reported that China wants more talks before signing a "phase 1" deal with Washington.

International benchmark Brent for settlements in December fell 2.13% to sell for $59.23 per barrel at 1:06 pm ET as West Texas Intermediate (WTI) for November delivery sank 2.19% to go for $53.54 per barrel at the same time.

Breaking the News / NI