Oil prices drop as US-China trade war concerns hit demand outlook

The US-China trade dispute rocked global equity markets last week, while a surprise build in US crude stocks added downward pressure to oil prices

Oil prices fell on Monday, dragged down by an economic slowdown and worries about the Sino-US trade war, which have led to a cut in the growth outlook for oil demand.

International benchmark Brent crude futures were at $58.25 a barrel by 0007 GMT, down 28 cents, or 0.5%, from their previous settlement.

US West Texas Intermediate (WTI) futures were at $54.28 per barrel, down 22 cents, or 0.4%, from their last close.

Both benchmarks fell last week, with Brent losing more than 5% and WTI falling about 2%.

"Oil prices are falling at the start of the trading week due to lower demand