Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world's two biggest economies.
U.S. West Texas Intermediate (WTI) crude futures were at $60.57 per barrel at 0646 GMT on Monday, down $1.37 per barrel, or 2.2 percent, from their last settlement.
Brent crude oil futures fell below $70 per barrel, trading at $69.34 per barrel, down $1.51, or 2.1 percent, from their last close.
Trump said on Twitter on Sunday that he would drastically hike U.S. tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures.
Source : Reuters