Oil prices fall after Trump plays down optimistic China trade reports
Oil prices dipped on Monday after US President Donald Trump appeared to play down reports of an imminent lifting of tariffs in a protracted US-Chinese trade war.
Brent crude was down 48 cents at $62.03 by 1311 GMT. The contract gained 1.3% last week.
US crude was 59 cents lower at $56.65 a barrel, having risen 1.9% last week.
Trump said on Saturday that trade talks with China were moving along “very nicely” but the United States would only make a deal if it was the right one for America.
Trump also said there had been incorrect reporting about US willingness to lift tariffs as part of a “phase one” agreement, news of which had boosted markets.
