Oil prices fell on Monday in Asia after U.S. President Donald Trump said that he is "not ready to make a deal" with China, stoking fears of weakening oil demand.
U.S. Crude Oil WTI Futures dropped 0.3% to $54.34 by 12:54 AM ET (04:54 GMT). International Brent Oil Futures fell 0.2% to $58.41.
"China wants to do something, but I'm not doing anything yet," Trump said on Friday. "Twenty-five years of abuse. I'm not ready so fast."
The president added that it would be "fine" if U.S.-China negotiations planned for next month were called off.
Source : Investing.com