U.S. oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, while rising U.S. inventories also jangled nerves.
West Texas Intermediate (WTI) crude (CLc1) dropped 27 cents or 0.47% to $56.78 a barrel by 05:49 GMT, slipping further away from an eight-week high hit last Friday when hopes for the trade deal rose.
Brent crude futures (LCOc1) were down 20 cents, or 0.32%, at $62.24.
A Chinese government source was quoted by broadcaster CNBC on Monday as saying there was gloom in Beijing about prospects for a trade deal, with Chinese officials troubled by U.S. President Donald Trump's comment that there was no agreement on phasing out tariffs.
Source : Reuters