One session is all it took for the optimism over U.S.-China trade talks to turn into pessimism.

Crude oil prices settled down 2% on Monday after a Bloomberg report that China had more demands from the Trump Administration over tariffs and wanted more talks to reach a trade deal. That contrasted with the U.S. president’s contention that the two sides were closer to an agreement.

Just on Friday, U.S. West Texas Intermediate crude U.K. Brent oil settled up more than 2% each, finishing last week up nearly 4% for their biggest weekly gain since the mid-September attack on Saudi Arabia’s oil facilities.

In the latest session, WTI settled down $1.11, or 2%, at $53.59 per barrel. Brent closed down $1.16, or 1.9%, at $59.35.

Source : Investing.com