Oil falls as South Korea growth revision highlights trade war impact

TOKYO: Oil prices fell on Tuesday, declining for a second day as more signs emerged of the toll from the US-China trade war, with South Korea revising down second-quarter growth due to lower exports.

US crude was down 32 cents, or 0.6 per cent, at $54.78 a barrel by 0055 GMT, while Brent was 7 cents lower at $58.59 a barrel.

The United States this week imposed 15 per cent tariffs on a variety of Chinese goods and China began to impose new duties on a $75 billion target list, deepening the trade war that has rumbled on for more than a year.