Oil prices drop as US-China trade dispute stokes demand worries
Updated : August 07, 2019 08:04 AM IST
International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41 percent, from their previous settlement and trading near seven-month lows.
West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.37 percent, from their last close to $53.43 per barrel.
Tensions in the Middle East have heightened in the wake of attacks on tankers and US drones, raising concerns over passing through the Strait of Hormuz, a key shipping artery of global oil trade.