Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal despite signs of a truce last week.
Brent crude fell $0.44, or nearly 1%, to $58.94 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 55 cents, or 1%, to $53.05.
The National Bureau of Statistics (NBS) reported on Tuesday that China’s factory gate prices declined at the fastest pace in more than three years in September.
The U.S.-China trade dispute also continued to cast a shadow on the global economy.
Source : Reuters