Oil prices edge down

Oil prices edged down on Monday, dragged down by expectations that China, the world’s largest crude oil importer, will post its slowest pace of economic growth in at least 27 years as the Sino-US trade war bites.

Brent crude futures for September fell 6 cents to $66.66 a barrel by 0022 GMT. U.S. crude for August was down 5 cents at $60.16 a barrel, after both contracts last week posted their biggest weekly gains in three weeks.

Analysts polled by Reuters expect China on Monday to report its gross domestic product (GDP) grew 6.2 per cent in the April-June quarter from a year earlier, the slowest pace since the first quarter of 1992, the earliest quarterly data on record.