Oil prices drop as US-China trade dispute stokes demand worries

SEOUL: Oil fell on Wednesday as the intensifying Sino-US trade dispute stoked worries over demand, although a drop in US crude inventories offered some support to prices.

International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41 per cent, from their previous settlement and trading near seven-month lows.

West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.37 per cent, from their last close to $53.43 per barrel.