Oil prices slid on Thursday as hopes faded for any significant progress in US-China trade talks that could dispel clouds over the global economy and gloom over prospects for weaker oil demand.
Global benchmark Brent crude futures fell 26 cents, or 0.5 per cent, to $58.05 a barrel by 0133 GMT, while US West Texas Intermediate crude was at $52.38 per barrel, down 21 cents, a 0.4 per cent drop.
Chinese government officials told Reuters that China has lowered its expectations for progress in the talks to end a 15-month-old tit-for-tat trade dispute that has slowed global economic growth, upset by the US blacklisting of Chinese companies.
